Westinghouse Air Brake Technologies Corporation (NYSE:WAB) – Equities research analysts at KeyCorp cut their FY2017 earnings estimates for Westinghouse Air Brake Technologies in a note issued to investors on Thursday. KeyCorp analyst S. Barger now anticipates that the transportation company will post earnings of $3.46 per share for the year, down from their prior forecast of $3.49. KeyCorp also issued estimates for Westinghouse Air Brake Technologies’ Q4 2017 earnings at $0.93 EPS.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Tuesday, October 24th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Westinghouse Air Brake Technologies had a return on equity of 11.85% and a net margin of 7.04%. The firm had revenue of $957.93 million during the quarter, compared to analysts’ expectations of $947.18 million. During the same period in the previous year, the firm earned $0.94 earnings per share. The company’s revenue was up 41.8% on a year-over-year basis.

A number of other research analysts have also recently issued reports on WAB. Zacks Investment Research raised Westinghouse Air Brake Technologies from a “sell” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Wednesday, October 18th. FBR & Co set a $85.00 price objective on Westinghouse Air Brake Technologies and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price objective (up from $74.00) on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, October 25th. Buckingham Research reduced their price objective on Westinghouse Air Brake Technologies from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Westinghouse Air Brake Technologies has a consensus rating of “Hold” and a consensus price target of $87.44.

Westinghouse Air Brake Technologies (NYSE:WAB) opened at $82.80 on Monday. Westinghouse Air Brake Technologies has a 52 week low of $69.20 and a 52 week high of $93.81. The company has a quick ratio of 1.03, a current ratio of 1.55 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7,950.00, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.77 and a beta of 1.08.

In other news, VP David L. Deninno sold 1,917 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $76.10, for a total transaction of $145,883.70. Following the completion of the transaction, the vice president now directly owns 56,131 shares of the company’s stock, valued at $4,271,569.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Brooks sold 3,500 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $77.66, for a total value of $271,810.00. Following the transaction, the director now directly owns 84,221 shares of the company’s stock, valued at $6,540,602.86. The disclosure for this sale can be found here. 11.69% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WAB. Beck Mack & Oliver LLC boosted its position in Westinghouse Air Brake Technologies by 75.8% during the third quarter. Beck Mack & Oliver LLC now owns 596,459 shares of the transportation company’s stock valued at $45,182,000 after purchasing an additional 257,150 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Westinghouse Air Brake Technologies by 15.7% during the second quarter. Lord Abbett & CO. LLC now owns 1,218,217 shares of the transportation company’s stock valued at $111,467,000 after purchasing an additional 165,735 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Westinghouse Air Brake Technologies during the second quarter valued at approximately $2,745,000. New York State Common Retirement Fund boosted its position in Westinghouse Air Brake Technologies by 5.3% during the third quarter. New York State Common Retirement Fund now owns 366,353 shares of the transportation company’s stock valued at $27,751,000 after purchasing an additional 18,600 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its position in Westinghouse Air Brake Technologies by 9.5% during the third quarter. Commonwealth Bank of Australia now owns 184,490 shares of the transportation company’s stock valued at $13,973,000 after purchasing an additional 15,995 shares during the last quarter.

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About Westinghouse Air Brake Technologies

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.

Earnings History and Estimates for Westinghouse Air Brake Technologies (NYSE:WAB)

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