ValuEngine cut shares of Westinghouse Air Brake Technologies (NYSE:WAB) from a buy rating to a hold rating in a research report report published on Friday morning.
Several other brokerages have also commented on WAB. Zacks Investment Research raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and set a $118.00 price objective for the company in a report on Tuesday, September 25th. Wolfe Research lowered Westinghouse Air Brake Technologies from an outperform rating to a peer perform rating in a report on Friday, October 5th. William Blair reissued a buy rating on shares of Westinghouse Air Brake Technologies in a report on Monday, September 17th. Wellington Shields raised Westinghouse Air Brake Technologies from a hold rating to a gradually accumulate rating in a report on Monday, October 15th. Finally, Wells Fargo & Co set a $105.00 price objective on Westinghouse Air Brake Technologies and gave the stock a buy rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $106.73.
Shares of NYSE WAB traded down $3.72 during midday trading on Friday, hitting $84.61. 998,212 shares of the company’s stock were exchanged, compared to its average volume of 800,418. Westinghouse Air Brake Technologies has a 12-month low of $69.75 and a 12-month high of $115.40. The company has a current ratio of 2.84, a quick ratio of 2.28 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.99 and a beta of 1.19.
Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Tuesday, October 30th. The transportation company reported $0.95 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. Westinghouse Air Brake Technologies had a return on equity of 12.43% and a net margin of 7.16%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Westinghouse Air Brake Technologies’s revenue was up 12.5% on a year-over-year basis. On average, analysts predict that Westinghouse Air Brake Technologies will post 3.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were given a $0.12 dividend. The ex-dividend date was Thursday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. Westinghouse Air Brake Technologies’s payout ratio is 13.99%.
A number of large investors have recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $292,000. Capital International Sarl bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $5,114,000. Capital International Investors bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $317,827,000. Capital Guardian Trust Co. bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $56,767,000. Finally, Capital Bank & Trust Co bought a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth approximately $55,641,000. Institutional investors own 95.02% of the company’s stock.
About Westinghouse Air Brake Technologies
Westinghouse Air Brake Technologies Corporation, doing business as 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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