Westinghouse Air Brake Technologies (WAB) Lifted to Outperform at Wolfe Research

Westinghouse Air Brake Technologies (NYSE:WAB) was upgraded by equities research analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday.

WAB has been the subject of several other research reports. Zacks Investment Research downgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Cowen started coverage on shares of Westinghouse Air Brake Technologies in a report on Wednesday, December 13th. They issued an “outperform” rating and a $90.00 price objective for the company. Seaport Global Securities started coverage on shares of Westinghouse Air Brake Technologies in a report on Thursday, January 4th. They issued a “buy” rating and a $90.00 price objective for the company. Buckingham Research reduced their price objective on shares of Westinghouse Air Brake Technologies from $100.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Finally, Stifel Nicolaus set a $68.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “hold” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $86.67.

Shares of Westinghouse Air Brake Technologies (WAB) opened at $77.27 on Friday. The firm has a market cap of $7,162.50, a PE ratio of 29.27, a P/E/G ratio of 1.62 and a beta of 1.00. Westinghouse Air Brake Technologies has a 1-year low of $69.20 and a 1-year high of $93.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.55 and a quick ratio of 1.03.

A number of institutional investors have recently modified their holdings of WAB. Beck Mack & Oliver LLC raised its position in Westinghouse Air Brake Technologies by 75.8% in the third quarter. Beck Mack & Oliver LLC now owns 596,459 shares of the transportation company’s stock worth $45,182,000 after acquiring an additional 257,150 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Westinghouse Air Brake Technologies in the fourth quarter worth about $4,402,000. Champlain Investment Partners LLC raised its position in Westinghouse Air Brake Technologies by 1.5% in the fourth quarter. Champlain Investment Partners LLC now owns 1,474,740 shares of the transportation company’s stock worth $120,088,000 after acquiring an additional 21,930 shares in the last quarter. SG Americas Securities LLC bought a new stake in Westinghouse Air Brake Technologies in the fourth quarter worth about $1,716,000. Finally, New York State Common Retirement Fund raised its position in Westinghouse Air Brake Technologies by 5.3% in the third quarter. New York State Common Retirement Fund now owns 366,353 shares of the transportation company’s stock worth $27,751,000 after acquiring an additional 18,600 shares in the last quarter.

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About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily 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.

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

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