Seaport Global Securities Begins Coverage on Westinghouse Air Brake Technologies (WAB)

Seaport Global Securities assumed coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research note released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $90.00 price objective on the transportation company’s stock.

Several other brokerages have also commented on WAB. Berenberg Bank initiated coverage on Westinghouse Air Brake Technologies in a report on Thursday, September 7th. They issued a hold rating and a $81.00 price objective for the company. Stifel Nicolaus reiterated a hold rating and set a $74.00 target price on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, September 12th. KeyCorp reiterated a buy rating and set a $100.00 target price on shares of Westinghouse Air Brake Technologies in a research report on Sunday, September 17th. Zacks Investment Research upgraded Westinghouse Air Brake Technologies from a sell rating to a buy rating and set a $84.00 target price on the stock in a research report on Wednesday, October 18th. Finally, FBR & Co set a $85.00 target price on Westinghouse Air Brake Technologies and gave the company a hold rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $87.44.

Shares of Westinghouse Air Brake Technologies (NYSE:WAB) opened at $81.83 on Thursday. Westinghouse Air Brake Technologies has a fifty-two week low of $69.20 and a fifty-two week high of $93.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.55 and a quick ratio of 1.03. The firm has a market capitalization of $7,855.62, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. Westinghouse Air Brake Technologies had a return on equity of 11.85% and a net margin of 7.04%. The company had revenue of $957.93 million during the quarter, compared to analyst estimates of $947.18 million. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. sell-side analysts forecast that Westinghouse Air Brake Technologies will post 3.48 earnings per share for the current year.

In related news, VP David L. Deninno sold 1,917 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $76.10, for a total value of $145,883.70. Following the completion of the sale, the vice president now owns 56,131 shares in the company, valued at $4,271,569.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Brooks sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $77.66, for a total value of $271,810.00. Following the completion of the sale, the director now owns 84,221 shares of the company’s stock, valued at approximately $6,540,602.86. The disclosure for this sale can be found here. Corporate insiders own 11.69% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Fieldpoint Private Securities LLC lifted its holdings in shares of Westinghouse Air Brake Technologies by 49.4% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 2,390 shares of the transportation company’s stock valued at $181,000 after purchasing an additional 790 shares during the last quarter. Tredje AP fonden lifted its holdings in shares of Westinghouse Air Brake Technologies by 15.7% during the 2nd quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock valued at $249,000 after purchasing an additional 370 shares during the last quarter. Kingfisher Capital LLC lifted its holdings in shares of Westinghouse Air Brake Technologies by 3.0% during the 2nd quarter. Kingfisher Capital LLC now owns 13,580 shares of the transportation company’s stock valued at $1,243,000 after purchasing an additional 392 shares during the last quarter. Eaton Vance Management lifted its holdings in shares of Westinghouse Air Brake Technologies by 16.6% during the 2nd quarter. Eaton Vance Management now owns 14,082 shares of the transportation company’s stock valued at $1,289,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Westinghouse Air Brake Technologies by 873.0% during the 3rd quarter. Pacer Advisors Inc. now owns 15,860 shares of the transportation company’s stock valued at $1,201,000 after purchasing an additional 14,230 shares during the last quarter.

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Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily manufactures and services components for new and existing freight cars and locomotives, builds new switcher locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, and provides related heat exchange and cooling systems.

Analyst Recommendations for Westinghouse Air Brake Technologies (NYSE:WAB)

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