Zacks Investment Research downgraded shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

According to Zacks, “Wabtec Corporation is one of North America’s largest providers of value-added, technology-based products and services for the rail industry. Through its subsidiaries, the company manufactures a full range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services, including locomotive and freight car fleet maintenance. (PRESS RELEASE) “

WAB has been the topic of several other research reports. Longbow Research cut shares of Westinghouse Air Brake Technologies Corporation from a buy rating to a neutral rating in a research note on Wednesday, October 26th. Stifel Nicolaus reissued a buy rating and issued a $90.00 price objective (up previously from $85.00) on shares of Westinghouse Air Brake Technologies Corporation in a research note on Wednesday, October 5th. assumed coverage on shares of Westinghouse Air Brake Technologies Corporation in a research note on Friday, September 30th. They issued a buy rating and a $97.00 price objective on the stock. Finally, William Blair raised shares of Westinghouse Air Brake Technologies Corporation from a market perform rating to an outperform rating and set a $95.00 price objective on the stock in a research note on Wednesday, December 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Westinghouse Air Brake Technologies Corporation presently has a consensus rating of Buy and a consensus target price of $91.29.

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

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) opened at 85.92 on Friday. Westinghouse Air Brake Technologies Corporation has a 12-month low of $60.28 and a 12-month high of $89.18. The company has a market cap of $7.65 billion, a PE ratio of 21.63 and a beta of 1.11. The firm’s 50-day moving average price is $84.11 and its 200-day moving average price is $78.15.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last posted its earnings results on Tuesday, October 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $676 million for the quarter, compared to the consensus estimate of $720.85 million. Westinghouse Air Brake Technologies Corporation had a return on equity of 22.43% and a net margin of 12.28%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 EPS. Equities research analysts forecast that Westinghouse Air Brake Technologies Corporation will post $3.97 earnings per share for the current fiscal year.

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An institutional investor recently raised its position in Westinghouse Air Brake Technologies Corporation stock. Commonwealth Bank of Australia boosted its stake in shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) by 34.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,594 shares of the company’s stock after buying an additional 36,682 shares during the period. Commonwealth Bank of Australia owned about 0.16% of Westinghouse Air Brake Technologies Corporation worth $11,723,000 at the end of the most recent reporting period.

Westinghouse Air Brake Technologies Corporation Company Profile

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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