Westinghouse Air Brake Technologies (NYSE:WAB) Shares Gap Down to $75.31

Westinghouse Air Brake Technologies Corp (NYSE:WAB) gapped down before the market opened on Thursday . The stock had previously closed at $77.37, but opened at $75.31. Westinghouse Air Brake Technologies shares last traded at $71.83, with a volume of 16,980,277 shares traded.

A number of brokerages recently commented on WAB. Goldman Sachs Group upgraded shares of Westinghouse Air Brake Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $84.00 to $89.00 in a report on Wednesday. Buckingham Research raised their price objective on shares of Westinghouse Air Brake Technologies from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wellington Shields lowered shares of Westinghouse Air Brake Technologies from an “accumulate” rating to a “hold” rating in a report on Thursday, July 11th. Stifel Nicolaus set a $96.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, ValuEngine upgraded shares of Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $87.78.

The company has a quick ratio of 0.73, a current ratio of 1.32 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $72.21. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.41.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a net margin of 3.68% and a return on equity of 8.34%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business earned $0.96 EPS. The company’s revenue was up 101.2% compared to the same quarter last year. As a group, equities research analysts predict that Westinghouse Air Brake Technologies Corp will post 4.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.12 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.48 annualized dividend and a yield of 0.70%. Westinghouse Air Brake Technologies’s payout ratio is currently 12.60%.

In other news, VP David L. Deninno acquired 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $64.51 per share, for a total transaction of $193,530.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert J. Neupaver acquired 10,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average price of $65.26 per share, for a total transaction of $652,600.00. Following the completion of the purchase, the director now directly owns 668,418 shares in the company, valued at $43,620,958.68. The disclosure for this purchase can be found here. Insiders acquired a total of 21,000 shares of company stock worth $1,349,650 over the last quarter. Company insiders own 6.56% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in WAB. Coastal Capital Group Inc. acquired a new position in shares of Westinghouse Air Brake Technologies during the 2nd quarter worth about $25,000. YorkBridge Wealth Partners LLC increased its stake in shares of Westinghouse Air Brake Technologies by 72.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 393 shares of the transportation company’s stock worth $28,000 after purchasing an additional 165 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter worth about $34,000. RPG Investment Advisory LLC increased its stake in shares of Westinghouse Air Brake Technologies by 545.0% during the 1st quarter. RPG Investment Advisory LLC now owns 645 shares of the transportation company’s stock worth $48,000 after purchasing an additional 545 shares during the last quarter. Finally, Iat Reinsurance Co. LTD. acquired a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter worth about $48,000. Institutional investors own 92.60% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile (NYSE:WAB)

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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