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

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

Other research analysts have also issued reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $170.00 target price on shares of Spotify in a research note on Friday, April 26th. Buckingham Research lowered shares of Westinghouse Air Brake Technologies from a buy rating to a neutral rating and lowered their target price for the company from $93.00 to $81.00 in a research note on Monday, June 24th. Citigroup upgraded shares of Welbilt from a neutral rating to a buy rating and raised their target price for the company from $17.00 to $19.00 in a research note on Wednesday. Goldman Sachs Group lowered shares of EXPERIAN PLC/ADR from a buy rating to a neutral rating in a research note on Wednesday. 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 investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $89.90.

Shares of WAB opened at $72.04 on Thursday. The business’s fifty day simple moving average is $68.90. Westinghouse Air Brake Technologies has a 12 month low of $61.95 and a 12 month high of $115.40. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40. The company has a current ratio of 1.35, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.26. Westinghouse Air Brake Technologies had a net margin of 4.12% and a return on equity of 9.11%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business posted $0.92 EPS. Westinghouse Air Brake Technologies’s quarterly revenue was up 50.9% on a year-over-year basis. Research analysts anticipate that Westinghouse Air Brake Technologies will post 4.16 EPS for the current year.

The company 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 $0.12 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Westinghouse Air Brake Technologies’s payout ratio is presently 12.60%.

In related news, Director William E. Kassling purchased 8,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $62.94 per share, for a total transaction of $503,520.00. Following the transaction, the director now directly owns 69,730 shares of the company’s stock, valued at approximately $4,388,806.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Albert J. Neupaver purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average price of $65.26 per share, for a total transaction of $652,600.00. Following the completion of the transaction, the director now directly owns 668,418 shares in the company, valued at $43,620,958.68. The disclosure for this purchase can be found here. Insiders purchased a total of 21,000 shares of company stock worth $1,349,650 over the last quarter. 6.56% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WAB. PRW Wealth Management LLC acquired a new stake in Westinghouse Air Brake Technologies in the 4th quarter worth $28,000. Cullen Frost Bankers Inc. acquired a new stake in Westinghouse Air Brake Technologies in the 1st quarter worth $34,000. RPG Investment Advisory LLC grew its position in Westinghouse Air Brake Technologies by 545.0% in the 1st quarter. RPG Investment Advisory LLC now owns 645 shares of the transportation company’s stock worth $48,000 after purchasing an additional 545 shares during the last quarter. Iat Reinsurance Co. LTD. acquired a new stake in Westinghouse Air Brake Technologies in the 1st quarter worth $48,000. Finally, Cribstone Capital Management LLC acquired a new stake in Westinghouse Air Brake Technologies in the 1st quarter worth $49,000. Institutional investors 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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