Wellington Shields Lowers Westinghouse Air Brake Technologies (NYSE:WAB) to Hold

Wellington Shields downgraded shares of Westinghouse Air Brake Technologies (NYSE:WAB) from an accumulate rating to a hold rating in a report released on Thursday morning, Briefing.com Automated Import reports.

Several other research firms have also recently issued reports on WAB. ValuEngine cut shares of Xylem from a buy rating to a hold rating in a report on Tuesday, May 14th. Citigroup upgraded shares of Welbilt from a neutral rating to a buy rating and increased their price objective for the company from $17.00 to $19.00 in a report on Wednesday. Stifel Nicolaus reiterated a buy rating and issued a $170.00 price objective on shares of Spotify in a report on Friday, April 26th. Buckingham Research lowered shares of Westinghouse Air Brake Technologies from a buy rating to a neutral rating and cut their target price for the company from $93.00 to $81.00 in a research note on Monday, June 24th. Finally, Wells Fargo & Co set a $95.00 target price on shares of Westinghouse Air Brake Technologies and gave the company a buy rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Westinghouse Air Brake Technologies presently has a consensus rating of Hold and an average target price of $89.90.

Westinghouse Air Brake Technologies stock opened at $72.04 on Thursday. The company has a 50 day moving average of $68.90. The company has a quick ratio of 0.75, a current ratio of 1.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $11.36 billion, a PE ratio of 18.91, a PEG ratio of 1.34 and a beta of 1.40. Westinghouse Air Brake Technologies has a 12-month low of $61.95 and a 12-month high of $115.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.26. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Westinghouse Air Brake Technologies had a net margin of 4.12% and a return on equity of 9.11%. The business’s revenue was up 50.9% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. As a group, equities research analysts forecast that Westinghouse Air Brake Technologies will post 4.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 12.60%.

In other news, VP David L. Deninno purchased 3,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average price of $64.51 per share, for a total transaction of $193,530.00. Following the transaction, the vice president now owns 87,066 shares in the company, valued at $5,616,627.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William E. Kassling purchased 8,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $62.94 per share, with a total value of $503,520.00. Following the transaction, the director now owns 69,730 shares in the company, valued at approximately $4,388,806.20. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 21,000 shares of company stock valued at $1,349,650. Company insiders own 6.56% of the company’s stock.

Large investors have recently modified their holdings of the stock. PRW Wealth Management LLC purchased a new stake in shares of Westinghouse Air Brake Technologies in the 4th quarter valued at approximately $28,000. Santori & Peters Inc. lifted its position in shares of Westinghouse Air Brake Technologies by 6.1% in the 1st quarter. Santori & Peters Inc. now owns 593,771 shares of the transportation company’s stock valued at $43,772,000 after acquiring an additional 33,970 shares in the last quarter. Smithfield Trust Co. lifted its position in shares of Westinghouse Air Brake Technologies by 93.3% in the 1st quarter. Smithfield Trust Co. now owns 1,450 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 700 shares in the last quarter. Cleararc Capital Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $248,000. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $379,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

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

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