Wabtec (WAB) Downgraded to “Hold” at Zacks Investment Research

Wabtec (NYSE:WAB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Wabtec Corporation is one of North America’s largest provider of value-added, technology-based products and services for freight rail, passenger transit and select industrial markets worldwide. Through its subsidiaries, the company manufactures a broad range of products for end markets such as locomotives, freight cars, passenger transit vehicles and power generation equipment, for both original equipment and aftermarket applications. Wabtec also builds new locomotives up to 5,400 horsepower, and provides aftermarket maintenance and services for locomotives and passenger transit vehicles. Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts by Alstom and Bombardier Transportation to supply systems for the first 71 train sets of the new generation of double deck trains for Paris. “

Several other analysts also recently commented on WAB. Stifel Nicolaus set a $68.00 price objective on shares of Wabtec and gave the company a “hold” rating in a research report on Friday, February 9th. Wolfe Research upgraded shares of Wabtec from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research report on Friday, February 16th. Cowen restated a “buy” rating and set a $90.00 price objective on shares of Wabtec in a research report on Tuesday, February 20th. B. Riley set a $85.00 price objective on shares of Wabtec and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, William Blair restated an “outperform” rating on shares of Wabtec in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.83.

Shares of Wabtec stock traded up $0.80 on Friday, hitting $94.95. 11,814 shares of the company’s stock were exchanged, compared to its average volume of 812,471. The stock has a market capitalization of $9.11 billion, a PE ratio of 27.68, a P/E/G ratio of 2.14 and a beta of 0.91. Wabtec has a 1 year low of $93.97 and a 1 year high of $95.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.50 and a quick ratio of 0.99.

Wabtec (NYSE:WAB) last issued its quarterly earnings results on Tuesday, April 24th. The transportation company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Wabtec had a net margin of 6.88% and a return on equity of 12.13%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. research analysts anticipate that Wabtec will post 3.85 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Wabtec by 1.9% in the 1st quarter. BlackRock Inc. now owns 7,944,769 shares of the transportation company’s stock valued at $646,705,000 after acquiring an additional 145,135 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Wabtec by 1.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,691,207 shares of the transportation company’s stock valued at $381,864,000 after acquiring an additional 47,026 shares during the last quarter. American Century Companies Inc. increased its holdings in Wabtec by 8.5% in the 1st quarter. American Century Companies Inc. now owns 1,984,032 shares of the transportation company’s stock valued at $161,500,000 after acquiring an additional 154,633 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Wabtec by 1.5% in the 4th quarter. Champlain Investment Partners LLC now owns 1,474,740 shares of the transportation company’s stock valued at $120,088,000 after acquiring an additional 21,930 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its holdings in Wabtec by 11.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 665,963 shares of the transportation company’s stock valued at $54,229,000 after acquiring an additional 69,504 shares during the last quarter.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

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