Shares of Westinghouse Air Brake Technologies Corp. (NYSE:WAB) shot up 3.9% during trading on Tuesday . The stock traded as high as $69.49 and last traded at $68.85, with a volume of 1,231,344 shares changing hands. The stock had previously closed at $66.25.

WAB has been the topic of several recent research reports. Stifel Nicolaus dropped their price objective on shares of Westinghouse Air Brake Technologies Corp. to $85.00 in a research note on Tuesday. Zacks Investment Research cut shares of Westinghouse Air Brake Technologies Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, April 23rd. Finally, Wunderlich dropped their price objective on shares of Westinghouse Air Brake Technologies Corp. from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Westinghouse Air Brake Technologies Corp. currently has an average rating of “Hold” and a consensus price target of $85.00.

The stock has a market cap of $6.19 billion and a P/E ratio of 16.62. The stock’s 50-day moving average is $72.05 and its 200 day moving average is $73.41.

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) last released its earnings results on Monday, July 25th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by $0.03. The business earned $724 million during the quarter, compared to analysts’ expectations of $806.48 million. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share. Equities analysts anticipate that Westinghouse Air Brake Technologies Corp. will post $4.27 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Westinghouse Air Brake Technologies Corp. stock. Atlantic Trust Group LLC increased its stake in shares of Westinghouse Air Brake Technologies Corp. (NYSE:WAB) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,939 shares of the company’s stock after buying an additional 3,560 shares during the period. Atlantic Trust Group LLC owned approximately 0.07% of Westinghouse Air Brake Technologies Corp. worth $5,046,000 at the end of the most recent reporting period.

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global rail industry. The Company primarily serves the freight rail and passenger transit industries. The Company provides its products and services through two principal business segments: the Freight Segment and the Transit Segment.

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