Westinghouse Air Brake Technologies (WAB) Coverage Initiated by Analysts at Seaport Global Securities
Stock analysts at Seaport Global Securities started coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the transportation company’s stock.
A number of other research firms have also issued reports on WAB. Berenberg Bank initiated coverage on Westinghouse Air Brake Technologies in a research note on Thursday, September 7th. They set a “hold” rating and a $81.00 price objective on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $74.00 price objective on shares of Westinghouse Air Brake Technologies in a research note on Tuesday, September 12th. KeyCorp reiterated a “buy” rating and set a $100.00 price objective on shares of Westinghouse Air Brake Technologies in a research note on Sunday, September 17th. Zacks Investment Research upgraded Westinghouse Air Brake Technologies from a “sell” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Wednesday, October 18th. Finally, FBR & Co set a $85.00 target price on Westinghouse Air Brake Technologies and gave the stock a “hold” rating in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $87.13.
Westinghouse Air Brake Technologies (WAB) opened at $82.26 on Thursday. Westinghouse Air Brake Technologies has a 1 year low of $69.20 and a 1 year high of $93.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.55. The company has a market capitalization of $7,900.00, a price-to-earnings ratio of 31.28, a PEG ratio of 1.76 and a beta of 1.08.
Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.88 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 for the quarter, compared to analysts’ expectations of $947.18 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. sell-side analysts forecast that Westinghouse Air Brake Technologies will post 3.48 earnings per share for the current fiscal year.
In other news, Director Robert J. Brooks sold 3,500 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $77.66, for a total transaction of $271,810.00. Following the transaction, 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 available through the SEC website. Also, VP David L. Deninno sold 1,917 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $76.10, for a total value of $145,883.70. Following the transaction, 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. 11.69% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of WAB. IFP Advisors Inc boosted its holdings in Westinghouse Air Brake Technologies by 15.2% during the 2nd quarter. IFP Advisors Inc now owns 1,913 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 252 shares during the period. Fieldpoint Private Securities LLC boosted its holdings in Westinghouse Air Brake Technologies by 49.4% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 2,390 shares of the transportation company’s stock valued at $181,000 after acquiring an additional 790 shares during the period. Tredje AP fonden purchased a new stake in Westinghouse Air Brake Technologies during the 1st quarter valued at about $183,000. Cantab Capital Partners LLP purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at about $298,000. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Westinghouse Air Brake Technologies during the 2nd quarter valued at about $520,000.
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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.
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