Trade Report: The Zacks Investment Research Downgrades Westinghouse Air Brake Technologies Corp. (WAB) to Sell

The Zacks Investment Research Downgrades Westinghouse Air Brake Technologies Corp. (WAB) to Sell

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Wabtec Corporation is one of North America’s largest providers of value-added, technology-based products and services for the rail industry. Through its subsidiaries, the company manufactures a full range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services, including locomotive and freight car fleet maintenance. (PRESS RELEASE) “

Several other brokerages have also weighed in on WAB. Stifel Nicolaus restated a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of Westinghouse Air Brake Technologies Corp. in a report on Wednesday, October 5th. Credit Agricole SA began coverage on Westinghouse Air Brake Technologies Corp. in a report on Friday, September 30th. They issued a “buy” rating and a $97.00 price objective for the company. Longbow Research lowered Westinghouse Air Brake Technologies Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, October 26th. Deutsche Bank AG initiated coverage on Westinghouse Air Brake Technologies Corp. in a report on Tuesday, September 6th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Wunderlich reduced their target price on Westinghouse Air Brake Technologies Corp. from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $88.67.

Shares of Westinghouse Air Brake Technologies Corp. (NYSE:WAB) opened at 76.82 on Thursday. Westinghouse Air Brake Technologies Corp. has a 12-month low of $60.28 and a 12-month high of $86.46. The stock has a market cap of $6.92 billion, a PE ratio of 19.34 and a beta of 1.31. The firm has a 50-day moving average price of $78.94 and a 200 day moving average price of $76.10.

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.05. The firm earned $676 million during the quarter, compared to analyst estimates of $720.85 million. Westinghouse Air Brake Technologies Corp. had a net margin of 12.28% and a return on equity of 22.53%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 EPS. Equities research analysts predict that Westinghouse Air Brake Technologies Corp. will post $4.05 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Quantitative Investment Management LLC acquired a new stake in shares of Westinghouse Air Brake Technologies Corp. during the second quarter valued at about $1,481,000. Geode Capital Management LLC increased its stake in shares of Westinghouse Air Brake Technologies Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 603,447 shares of the company’s stock valued at $47,818,000 after buying an additional 37,555 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Westinghouse Air Brake Technologies Corp. by 31.4% in the second quarter. Champlain Investment Partners LLC now owns 334,160 shares of the company’s stock valued at $23,468,000 after buying an additional 79,895 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in shares of Westinghouse Air Brake Technologies Corp. by 15,173.1% in the second quarter. Commonwealth Bank of Australia now owns 106,912 shares of the company’s stock valued at $7,508,000 after buying an additional 106,212 shares in the last quarter.

Westinghouse Air Brake Technologies Corp. Company Profile

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global rail industry. The Company primarily serves the freight rail and passenger transit industries. The Company provides its products and services through two principal business segments: the Freight Segment and the Transit Segment.

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