Zacks Investment Research lowered shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Wabtec Corporation is one of North America’s largest provider of value-added, technology-based products and services for freight rail, passenger transit and select industrial markets worldwide. Through its subsidiaries, the company manufactures a broad range of products for end markets such as locomotives, freight cars, passenger transit vehicles and power generation equipment, for both original equipment and aftermarket applications. Wabtec also builds new locomotives up to 5,400 horsepower, and provides aftermarket maintenance and services for locomotives and passenger transit vehicles. Faiveley Transport, a subsidiary of Wabtec Corporation (NYSE: WAB), has been awarded contracts by Alstom and Bombardier Transportation to supply systems for the first 71 train sets of the new generation of double deck trains for Paris. “

A number of other brokerages also recently weighed in on WAB. Deutsche Bank AG downgraded shares of Westinghouse Air Brake Technologies Corporation from a buy rating to a hold rating and set a $90.00 price target on the stock. in a research report on Thursday, July 13th. FBR & Co reiterated a marketperform rating on shares of Westinghouse Air Brake Technologies Corporation in a research report on Tuesday, July 11th. Stifel Nicolaus downgraded shares of Westinghouse Air Brake Technologies Corporation from a buy rating to a hold rating and set a $92.00 price target on the stock. in a research report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub downgraded shares of Westinghouse Air Brake Technologies Corporation from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Finally, Buckingham Research cut their price target on shares of Westinghouse Air Brake Technologies Corporation from $100.00 to $97.00 and set a buy rating on the stock in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $87.75.

Shares of Westinghouse Air Brake Technologies Corporation (WAB) traded down $1.66 during trading hours on Wednesday, hitting $75.38. 1,055,533 shares of the company were exchanged, compared to its average volume of 809,317. The firm has a market cap of $7,315.14, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08. The company has a quick ratio of 1.03, a current ratio of 1.55 and a debt-to-equity ratio of 0.67. Westinghouse Air Brake Technologies Corporation has a 1-year low of $69.20 and a 1-year high of $93.81.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last announced its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $957.93 million for the quarter, compared to the consensus estimate of $947.18 million. Westinghouse Air Brake Technologies Corporation had a net margin of 7.04% and a return on equity of 11.85%. Westinghouse Air Brake Technologies Corporation’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. equities analysts anticipate that Westinghouse Air Brake Technologies Corporation will post 3.49 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 10th. This represents a $0.48 annualized dividend and a yield of 0.64%. Westinghouse Air Brake Technologies Corporation’s dividend payout ratio (DPR) is currently 18.18%.

In other Westinghouse Air Brake Technologies Corporation news, Director Robert J. Brooks sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David L. Deninno sold 1,917 shares of Westinghouse Air Brake Technologies Corporation stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $76.10, for a total transaction of $145,883.70. Following the completion of 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. Company insiders own 11.69% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of Westinghouse Air Brake Technologies Corporation by 15.2% in the second 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 last quarter. Tredje AP fonden raised its holdings in shares of Westinghouse Air Brake Technologies Corporation by 15.7% in the second quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock valued at $249,000 after purchasing an additional 370 shares during the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in shares of Westinghouse Air Brake Technologies Corporation in the second quarter valued at approximately $520,000. Buffington Mohr McNeal raised its holdings in shares of Westinghouse Air Brake Technologies Corporation by 1.9% in the second quarter. Buffington Mohr McNeal now owns 10,165 shares of the transportation company’s stock valued at $930,000 after purchasing an additional 185 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Westinghouse Air Brake Technologies Corporation by 873.0% in the third quarter. Pacer Advisors Inc. now owns 15,860 shares of the transportation company’s stock valued at $1,201,000 after purchasing an additional 14,230 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.

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

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