Westinghouse Air Brake Technologies (WAB) Price Target Cut to $93.00

Westinghouse Air Brake Technologies (NYSE:WAB) had its price objective dropped by investment analysts at Buckingham Research from $94.00 to $93.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the transportation company’s stock. Buckingham Research’s target price points to a potential upside of 32.76% from the company’s current price.

Several other research analysts have also issued reports on WAB. ValuEngine raised Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 15th. Cowen reaffirmed an “outperform” rating and set a $88.00 target price (down from $125.00) on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, January 29th. William Blair reaffirmed an “outperform” rating on shares of Westinghouse Air Brake Technologies in a research report on Thursday, December 20th. Finally, Mizuho reaffirmed a “hold” rating on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, February 26th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $97.27.

Shares of NYSE:WAB opened at $70.05 on Friday. Westinghouse Air Brake Technologies has a 1 year low of $65.09 and a 1 year high of $115.40. The stock has a market cap of $7.14 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31. The company has a current ratio of 2.70, a quick ratio of 2.19 and a debt-to-equity ratio of 1.32.

In other Westinghouse Air Brake Technologies news, Director Linda S. Harty sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $75.68, for a total transaction of $227,040.00. Following the sale, the director now owns 6,054 shares in the company, valued at approximately $458,166.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.49% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of WAB. PRW Wealth Management LLC purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at about $28,000. Berman Capital Advisors LLC purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at about $127,000. Piedmont Investment Advisors Inc. grew its stake in Westinghouse Air Brake Technologies by 10,666.7% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 2,261 shares of the transportation company’s stock valued at $237,000 after purchasing an additional 2,240 shares during the last quarter. Resources Management Corp CT ADV purchased a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $292,000. Finally, O Brien Greene & Co. Inc purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at about $309,000. Institutional investors and hedge funds own 99.07% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

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

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