Westinghouse Air Brake Technologies Corp. (NYSE:WAB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

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) “

Several other analysts also recently commented on WAB. Wunderlich lowered their target price on shares of Westinghouse Air Brake Technologies Corp. from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, July 25th. Stifel Nicolaus lowered their target price on shares of Westinghouse Air Brake Technologies Corp. from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, July 26th. Deutsche Bank AG initiated coverage on shares of Westinghouse Air Brake Technologies Corp. in a report on Tuesday, September 6th. They issued a “buy” rating and a $90.00 target price for the company. Credit Agricole SA initiated coverage on shares of Westinghouse Air Brake Technologies Corp. in a report on Friday, September 30th. They issued a “buy” rating and a $97.00 target price for the company. Finally, Longbow Research downgraded shares of Westinghouse Air Brake Technologies Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, October 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $90.00.

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

Shares of Westinghouse Air Brake Technologies Corp. (NYSE:WAB) opened at 85.63 on Friday. Westinghouse Air Brake Technologies Corp. has a 12-month low of $60.28 and a 12-month high of $86.46. The firm has a 50-day moving average of $79.89 and a 200-day moving average of $75.97. The company has a market cap of $7.63 billion, a P/E ratio of 21.55 and a beta of 1.09.

Westinghouse Air Brake Technologies Corp. (NYSE:WAB) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.05. Westinghouse Air Brake Technologies Corp. had a net margin of 12.28% and a return on equity of 22.43%. The business earned $676 million during the quarter, compared to the consensus estimate of $720.85 million. During the same period last year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. Analysts predict that Westinghouse Air Brake Technologies Corp. will post $4.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. Westinghouse Air Brake Technologies Corp.’s dividend payout ratio (DPR) is presently 10.05%.

Several institutional investors have recently bought and sold shares of WAB. Quantitative Investment Management LLC acquired a new position in Westinghouse Air Brake Technologies Corp. during the second quarter valued at $1,481,000. Commonwealth Bank of Australia increased its position in Westinghouse Air Brake Technologies Corp. by 15,173.1% in the second quarter. Commonwealth Bank of Australia now owns 106,912 shares of the company’s stock valued at $7,508,000 after buying an additional 106,212 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in Westinghouse Air Brake Technologies Corp. by 31.4% in the second quarter. Champlain Investment Partners LLC now owns 334,160 shares of the company’s stock valued at $23,468,000 after buying an additional 79,895 shares during the last quarter.

About Westinghouse Air Brake Technologies Corp.

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global rail industry. The Company primarily serves the freight rail and passenger transit industries. The Company provides its products and services through two principal business segments: the Freight Segment and the Transit Segment.

5 Day Chart for NYSE:WAB

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