Cowen Begins Coverage on Westinghouse Air Brake Technologies (WAB)

Cowen assumed coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $90.00 price objective on the transportation company’s stock.

Several other research firms have also recently weighed in on WAB. BidaskClub cut Westinghouse Air Brake Technologies from a sell rating to a strong sell rating in a research report on Thursday, August 17th. Berenberg Bank initiated coverage on Westinghouse Air Brake Technologies in a research note on Thursday, September 7th. They issued a hold rating and a $81.00 target price on the stock. KeyCorp restated a buy rating and issued a $100.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Sunday, September 17th. Stifel Nicolaus restated a hold rating and issued a $75.00 target price (up from $74.00) on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, October 25th. Finally, Zacks Investment Research lowered Westinghouse Air Brake Technologies from a hold rating to a sell rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Westinghouse Air Brake Technologies currently has a consensus rating of Hold and a consensus price target of $88.00.

Westinghouse Air Brake Technologies (WAB) opened at $76.67 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.55 and a quick ratio of 1.03. Westinghouse Air Brake Technologies has a 1 year low of $69.20 and a 1 year high of $93.81. The firm has a market capitalization of $7,440.00, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Westinghouse Air Brake Technologies had a return on equity of 11.85% and a net margin of 7.04%. The business had revenue of $957.93 million for the quarter, compared to analysts’ expectations of $947.18 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was up 41.8% on a year-over-year basis. equities analysts expect that Westinghouse Air Brake Technologies will post 3.48 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Monday, November 13th were paid a $0.12 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. Westinghouse Air Brake Technologies’s payout ratio is presently 18.25%.

In related news, Director Robert J. Brooks sold 3,500 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $77.66, for a total transaction of $271,810.00. Following the sale, the director now directly owns 84,221 shares in the company, valued at approximately $6,540,602.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David L. Deninno sold 1,917 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $76.10, for a total value of $145,883.70. Following the sale, the vice president now owns 56,131 shares in the company, valued at $4,271,569.10. The disclosure for this sale can be found here. Insiders own 11.69% of the company’s stock.

Several large investors have recently added to or reduced their stakes in WAB. IFP Advisors Inc raised its stake in shares of Westinghouse Air Brake Technologies by 15.2% during the 2nd quarter. IFP Advisors Inc now owns 1,913 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 252 shares during the period. Fieldpoint Private Securities LLC raised its stake in shares of Westinghouse Air Brake Technologies by 49.4% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 2,390 shares of the transportation company’s stock valued at $181,000 after purchasing an additional 790 shares during the period. Tredje AP fonden increased its stake in Westinghouse Air Brake Technologies by 15.7% in the 2nd quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock worth $249,000 after acquiring an additional 370 shares during the last quarter. Pacer Advisors Inc. increased its stake in Westinghouse Air Brake Technologies by 873.0% in the 3rd quarter. Pacer Advisors Inc. now owns 15,860 shares of the transportation company’s stock worth $1,201,000 after acquiring an additional 14,230 shares during the last quarter. Finally, Kingfisher Capital LLC increased its stake in Westinghouse Air Brake Technologies by 3.0% in the 2nd quarter. Kingfisher Capital LLC now owns 13,580 shares of the transportation company’s stock worth $1,243,000 after acquiring an additional 392 shares during 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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