Today, Westinghouse Air Brake Technologies Corp. (WAB) Raised to Hold at The Zacks Investment Research

Today, Westinghouse Air Brake Technologies Corp. (WAB) Raised to Hold at The Zacks Investment Research

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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 research firms also recently weighed in on WAB. Stifel Nicolaus reissued a “buy” rating and set a $90.00 price target (up previously from $85.00) on shares of Westinghouse Air Brake Technologies Corp. in a research report on Wednesday, October 5th. assumed coverage on Westinghouse Air Brake Technologies Corp. in a research report on Friday, September 30th. They set a “buy” rating and a $97.00 price target for the company. Longbow Research downgraded Westinghouse Air Brake Technologies Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 26th. Finally, Deutsche Bank AG assumed coverage on Westinghouse Air Brake Technologies Corp. in a research report on Tuesday, September 6th. They set a “buy” rating and a $90.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $90.00.

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) traded down 1.054% during trading on Tuesday, reaching $83.995. The company had a trading volume of 200,151 shares. The company has a market capitalization of $7.48 billion, a P/E ratio of 21.141 and a beta of 1.09. The firm’s 50 day moving average is $81.71 and its 200-day moving average is $76.25. Westinghouse Air Brake Technologies Corp. has a 12 month low of $60.28 and a 12 month high of $88.47.

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.05. The company had revenue of $676 million for the quarter, compared to analysts’ expectations of $720.85 million. Westinghouse Air Brake Technologies Corp. had a return on equity of 22.43% and a net margin of 12.28%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 EPS. On average, equities analysts expect that Westinghouse Air Brake Technologies Corp. will post $4.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 14th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, November 9th. Westinghouse Air Brake Technologies Corp.’s dividend payout ratio is currently 10.05%.

Large investors have recently made changes to their positions in the stock. Quantitative Investment Management LLC acquired a new stake in shares of Westinghouse Air Brake Technologies Corp. during the second quarter worth approximately $1,481,000. Commonwealth Bank of Australia boosted its position 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 worth $7,508,000 after buying an additional 106,212 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position 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 worth $23,468,000 after buying an additional 79,895 shares during 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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