Cowen initiated coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research report issued on Wednesday, The Fly reports. The firm set an “outperform” rating on the transportation company’s stock.

Several other research firms have also recently issued reports on WAB. Buckingham Research lowered their price objective on Westinghouse Air Brake Technologies from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $75.00 price objective (up from $74.00) on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, October 25th. FBR & Co set a $85.00 price objective on Westinghouse Air Brake Technologies and gave the company a “hold” rating in a research report on Wednesday, October 25th. Zacks Investment Research cut Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, B. Riley reaffirmed a “neutral” rating on shares of Westinghouse Air Brake Technologies in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $87.75.

Westinghouse Air Brake Technologies (NYSE:WAB) opened at $76.73 on Wednesday. The stock has a market capitalization of $7,370.00, a P/E ratio of 22.89, a P/E/G ratio of 1.90 and a beta of 1.08. Westinghouse Air Brake Technologies has a 12-month low of $69.20 and a 12-month high of $93.81. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.55 and a quick ratio of 1.03.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.04. The business had revenue of $957.93 million for the quarter, compared to analysts’ expectations of $947.18 million. Westinghouse Air Brake Technologies had a return on equity of 11.85% and a net margin of 7.04%. The firm’s quarterly revenue was up 41.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. equities analysts anticipate that Westinghouse Air Brake Technologies will post 3.48 earnings per share for the current fiscal year.

In other news, VP David L. Deninno sold 1,917 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $76.10, for a total transaction of $145,883.70. Following the transaction, the vice president now directly owns 56,131 shares of the company’s stock, valued at approximately $4,271,569.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert J. Brooks sold 3,500 shares of the stock in a transaction on Monday, November 6th. The shares were 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 in the company, 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.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAB. Appleton Partners Inc. MA raised its holdings in Westinghouse Air Brake Technologies by 0.5% in the 4th quarter. Appleton Partners Inc. MA now owns 97,766 shares of the transportation company’s stock worth $6,953,000 after purchasing an additional 479 shares during the period. Clean Yield Group raised its holdings in Westinghouse Air Brake Technologies by 2.6% in the 4th quarter. Clean Yield Group now owns 18,337 shares of the transportation company’s stock worth $1,159,000 after purchasing an additional 465 shares during the period. Mountain Pacific Investment Advisers Inc. ID raised its holdings in Westinghouse Air Brake Technologies by 43.9% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 242,395 shares of the transportation company’s stock worth $17,239,000 after purchasing an additional 73,985 shares during the period. Atlantic Trust Group LLC raised its holdings in Westinghouse Air Brake Technologies by 5.3% in the 4th quarter. Atlantic Trust Group LLC now owns 70,939 shares of the transportation company’s stock worth $5,046,000 after purchasing an additional 3,560 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Westinghouse Air Brake Technologies in the 4th quarter worth $5,579,000.

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Westinghouse Air Brake Technologies 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.

The Fly

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

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