Brokerages Set Westinghouse Air Brake Technologies Corp (NYSE:WAB) Price Target at $88.88
Westinghouse Air Brake Technologies Corp (NYSE:WAB) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $87.11.
A number of brokerages have recently weighed in on WAB. Wellington Shields cut shares of Westinghouse Air Brake Technologies from an “accumulate” rating to a “hold” rating in a research note on Thursday, July 11th. Buckingham Research raised their target price on shares of Westinghouse Air Brake Technologies from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup set a $84.00 target price on shares of Westinghouse Air Brake Technologies and gave the company a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Westinghouse Air Brake Technologies in a report on Tuesday. They issued an “equal weight” rating and a $73.00 target price on the stock. Finally, Cowen reissued a “buy” rating and set a $92.00 target price on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, July 30th.
In other news, major shareholder Electric Co General sold 16,969,692 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $70.33, for a total value of $1,193,478,438.36. Following the completion of the sale, the insider now directly owns 2,048,515 shares of the company’s stock, valued at $144,072,059.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.56% of the stock is owned by insiders.
Shares of WAB stock traded up $1.87 during trading on Thursday, reaching $72.25. The company had a trading volume of 1,596,071 shares, compared to its average volume of 2,157,897. The firm’s 50 day simple moving average is $69.63 and its two-hundred day simple moving average is $70.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.32 and a quick ratio of 0.73. Westinghouse Air Brake Technologies has a one year low of $61.00 and a one year high of $114.07. The company has a market capitalization of $13.39 billion, a PE ratio of 18.96, a PEG ratio of 1.31 and a beta of 1.44.
Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 8.34% and a net margin of 3.68%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company earned $0.96 EPS. The company’s revenue for the quarter was up 101.2% on a year-over-year basis. Analysts forecast that Westinghouse Air Brake Technologies will post 4.16 earnings per share for the current year.
About Westinghouse Air Brake Technologies
Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment 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.
Featured Story: Why is the LIBOR significant?
Receive News & Ratings for Westinghouse Air Brake Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westinghouse Air Brake Technologies and related companies with MarketBeat.com's FREE daily email newsletter.