Westinghouse Air Brake Technologies (NYSE:WAB) Downgraded by ValuEngine to Sell

ValuEngine lowered shares of Westinghouse Air Brake Technologies (NYSE:WAB) from a hold rating to a sell rating in a report published on Friday morning, ValuEngine reports.

Several other research analysts have also commented on WAB. Wells Fargo & Co set a $95.00 price objective on Westinghouse Air Brake Technologies and gave the company a buy rating in a research report on Friday, April 26th. Cowen reissued a buy rating and issued a $92.00 price objective on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, July 30th. Goldman Sachs Group raised Westinghouse Air Brake Technologies from a neutral rating to a buy rating and raised their price objective for the company from $84.00 to $89.00 in a research report on Wednesday, August 7th. Stifel Nicolaus set a $96.00 price objective on Westinghouse Air Brake Technologies and gave the company a buy rating in a research report on Friday, April 26th. Finally, Wellington Shields lowered Westinghouse Air Brake Technologies from an accumulate rating to a hold rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Westinghouse Air Brake Technologies currently has a consensus rating of Hold and a consensus target price of $87.78.

Shares of WAB traded up $4.31 during trading hours on Friday, hitting $66.62. The stock had a trading volume of 3,903,400 shares, compared to its average volume of 3,018,830. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.32. The firm has a market cap of $12.09 billion, a P/E ratio of 17.49, a P/E/G ratio of 1.24 and a beta of 1.41. The company’s fifty day simple moving average is $71.66 and its 200 day simple moving average is $71.52. Westinghouse Air Brake Technologies has a 12-month low of $61.00 and a 12-month high of $115.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 8.34% and a net margin of 3.68%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company posted $0.96 earnings per share. The firm’s revenue was up 101.2% compared to the same quarter last year. As a group, sell-side analysts predict that Westinghouse Air Brake Technologies will post 4.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 12.60%.

In other Westinghouse Air Brake Technologies news, VP David L. Deninno bought 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $64.51 per share, for a total transaction of $193,530.00. Following the completion of the purchase, the vice president now directly owns 87,066 shares of the company’s stock, valued at $5,616,627.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert J. Neupaver bought 10,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of $65.26 per share, with a total value of $652,600.00. Following the completion of the purchase, the director now directly owns 668,418 shares of the company’s stock, valued at $43,620,958.68. The disclosure for this purchase can be found here. Insiders have bought 21,000 shares of company stock valued at $1,349,650 over the last 90 days. Insiders own 6.56% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Santori & Peters Inc. grew its stake in shares of Westinghouse Air Brake Technologies by 6.1% during the first quarter. Santori & Peters Inc. now owns 593,771 shares of the transportation company’s stock valued at $43,772,000 after acquiring an additional 33,970 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Westinghouse Air Brake Technologies by 3.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 26,079 shares of the transportation company’s stock valued at $1,871,000 after acquiring an additional 923 shares in the last quarter. Smithfield Trust Co. grew its stake in shares of Westinghouse Air Brake Technologies by 93.3% during the first quarter. Smithfield Trust Co. now owns 1,450 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 700 shares in the last quarter. Cleararc Capital Inc. acquired a new stake in shares of Westinghouse Air Brake Technologies during the first quarter valued at about $248,000. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Westinghouse Air Brake Technologies during the first quarter valued at about $379,000. Institutional investors own 82.24% of the company’s stock.

About Westinghouse Air Brake Technologies

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment 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.

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

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