Zacks Investment Research upgraded shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) from a sell rating to a buy rating in a research note released on Wednesday morning. They currently have $84.00 price target on the transportation company’s stock.

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 subject of a number of other reports. Stifel Nicolaus downgraded shares of Westinghouse Air Brake Technologies Corporation from a buy rating to a hold rating and set a $92.00 price objective for the company. in a research note on Monday, July 17th. They noted that the move was a valuation call. KeyCorp restated a buy rating and set a $100.00 price objective on shares of Westinghouse Air Brake Technologies Corporation in a research note on Sunday, September 17th. BidaskClub downgraded shares of Westinghouse Air Brake Technologies Corporation from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Berenberg Bank started coverage on shares of Westinghouse Air Brake Technologies Corporation in a research note on Thursday, September 7th. They set a hold rating and a $81.00 price objective for the company. Finally, FBR & Co restated a marketperform rating on shares of Westinghouse Air Brake Technologies Corporation in a research note on Tuesday, July 11th. One investment analyst has 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. The stock presently has an average rating of Hold and a consensus price target of $88.50.

Shares of Westinghouse Air Brake Technologies Corporation (NYSE WAB) opened at 76.87 on Wednesday. The firm has a market cap of $7.38 billion, a PE ratio of 27.05 and a beta of 1.06. Westinghouse Air Brake Technologies Corporation has a 12 month low of $69.20 and a 12 month high of $93.81. The firm has a 50 day moving average price of $74.32 and a 200-day moving average price of $79.69.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last posted its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.14). Westinghouse Air Brake Technologies Corporation had a return on equity of 13.07% and a net margin of 8.10%. The business had revenue of $932.25 million for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts predict that Westinghouse Air Brake Technologies Corporation will post $3.53 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the stock. Commonwealth Bank of Australia lifted its stake in Westinghouse Air Brake Technologies Corporation by 15.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 168,495 shares of the transportation company’s stock valued at $15,416,000 after purchasing an additional 22,988 shares during the last quarter. Capital Counsel LLC NY lifted its stake in Westinghouse Air Brake Technologies Corporation by 1.6% in the 2nd quarter. Capital Counsel LLC NY now owns 869,836 shares of the transportation company’s stock valued at $79,590,000 after purchasing an additional 13,918 shares during the last quarter. Hikari Power Ltd lifted its stake in Westinghouse Air Brake Technologies Corporation by 622.4% in the 2nd quarter. Hikari Power Ltd now owns 171,200 shares of the transportation company’s stock valued at $15,665,000 after purchasing an additional 147,500 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Westinghouse Air Brake Technologies Corporation by 64.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 623,437 shares of the transportation company’s stock valued at $57,044,000 after purchasing an additional 244,119 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Westinghouse Air Brake Technologies Corporation by 7.7% in the 2nd quarter. Aperio Group LLC now owns 40,411 shares of the transportation company’s stock valued at $3,698,000 after purchasing an additional 2,877 shares during the last quarter.

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 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.

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

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