Westinghouse Air Brake Technologies (WAB) Upgraded by Wolfe Research to “Outperform”

Wolfe Research upgraded shares of Westinghouse Air Brake Technologies (NYSE:WAB) from a market perform rating to an outperform rating in a research note released on Friday morning.

Other equities analysts also recently issued research reports about the stock. B. Riley reissued a neutral rating on shares of Westinghouse Air Brake Technologies in a report on Wednesday, November 1st. Stifel Nicolaus reissued a hold rating and set a $75.00 price target (up previously from $74.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, October 25th. FBR & Co set a $85.00 price target on shares of Westinghouse Air Brake Technologies and gave the company a hold rating in a report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Westinghouse Air Brake Technologies from a hold rating to a sell rating in a report on Tuesday, December 12th. Finally, Buckingham Research reduced their price target on shares of Westinghouse Air Brake Technologies from $100.00 to $97.00 and set a buy rating for the company in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $86.67.

Shares of Westinghouse Air Brake Technologies (NYSE:WAB) traded up $2.66 on Friday, hitting $77.27. 1,457,658 shares of the stock traded hands, compared to its average volume of 994,178. Westinghouse Air Brake Technologies has a 52 week low of $69.20 and a 52 week high of $93.81. The firm has a market capitalization of $7,162.50, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 1.62 and a beta of 1.00. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 0.67.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, February 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 18.18%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tredje AP fonden raised its stake in shares of Westinghouse Air Brake Technologies by 92.6% during the third quarter. Tredje AP fonden now owns 5,240 shares of the transportation company’s stock valued at $397,000 after purchasing an additional 2,520 shares in the last quarter. Harvey Investment Co. LLC raised its stake in shares of Westinghouse Air Brake Technologies by 7.4% during the third quarter. Harvey Investment Co. LLC now owns 177,710 shares of the transportation company’s stock valued at $13,462,000 after purchasing an additional 12,220 shares in the last quarter. FDx Advisors Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 18.8% during the third quarter. FDx Advisors Inc. now owns 22,302 shares of the transportation company’s stock valued at $1,689,000 after purchasing an additional 3,524 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 873.0% during the third 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 in the last quarter. Finally, Hikari Power Ltd raised its stake in shares of Westinghouse Air Brake Technologies by 7.1% during the third quarter. Hikari Power Ltd now owns 183,300 shares of the transportation company’s stock valued at $13,885,000 after purchasing an additional 12,100 shares in 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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