Westinghouse Air Brake Technologies (WAB) Downgraded to “Peer Perform” at Wolfe Research

Wolfe Research downgraded shares of Westinghouse Air Brake Technologies (NYSE:WAB) from an outperform rating to a peer perform rating in a research report released on Friday, Marketbeat reports.

Other analysts have also issued reports about the company. Zacks Investment Research raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and set a $118.00 target price on the stock in a research report on Tuesday, September 25th. William Blair reaffirmed a buy rating on shares of Westinghouse Air Brake Technologies in a research report on Monday, September 17th. Cowen reaffirmed a buy rating and set a $125.00 target price on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, July 24th. Stifel Nicolaus lifted their target price on Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday, July 25th. Finally, B. Riley set a $95.00 target price on Westinghouse Air Brake Technologies and gave the stock a hold rating in a research report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $104.69.

NYSE:WAB opened at $102.81 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.52. Westinghouse Air Brake Technologies has a 12 month low of $69.75 and a 12 month high of $115.40. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 2.34 and a beta of 0.93.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Tuesday, July 24th. The transportation company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. Westinghouse Air Brake Technologies had a return on equity of 12.40% and a net margin of 6.88%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities research analysts anticipate that Westinghouse Air Brake Technologies will post 3.89 EPS for the current fiscal year.

In related news, VP David L. Deninno sold 6,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $113.44, for a total value of $680,640.00. Following the completion of the transaction, the vice president now directly owns 59,888 shares in the company, valued at $6,793,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Kassling sold 8,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $109.27, for a total value of $874,160.00. Following the completion of the transaction, the director now owns 81,444 shares of the company’s stock, valued at $8,899,385.88. The disclosure for this sale can be found here. Insiders sold 207,208 shares of company stock valued at $22,743,371 over the last quarter. Insiders own 11.49% of the company’s stock.

A number of large investors have recently bought and sold shares of WAB. Barometer Capital Management Inc. acquired a new position in Westinghouse Air Brake Technologies in the third quarter worth about $5,842,000. Point72 Asset Management L.P. grew its stake in Westinghouse Air Brake Technologies by 47.3% in the first quarter. Point72 Asset Management L.P. now owns 84,700 shares of the transportation company’s stock worth $6,895,000 after purchasing an additional 27,204 shares in the last quarter. Verition Fund Management LLC acquired a new position in Westinghouse Air Brake Technologies in the first quarter worth about $1,208,000. Principal Financial Group Inc. grew its stake in Westinghouse Air Brake Technologies by 2.6% in the first quarter. Principal Financial Group Inc. now owns 366,391 shares of the transportation company’s stock worth $29,824,000 after purchasing an additional 9,375 shares in the last quarter. Finally, UBS Group AG grew its stake in Westinghouse Air Brake Technologies by 7.4% in the first quarter. UBS Group AG now owns 116,047 shares of the transportation company’s stock worth $9,446,000 after purchasing an additional 8,029 shares in the last quarter.

Westinghouse Air Brake Technologies 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.

See Also: Return on Equity (ROE)

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

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