Atlantic Securities Begins Coverage on Westinghouse Air Brake Technologies (NYSE:WAB)

Atlantic Securities began coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research note published on Friday morning, The Fly reports. The firm issued an overweight rating and a $92.00 price objective on the transportation company’s stock.

WAB has been the topic of a number of other reports. Morgan Stanley set a $71.00 price target on Westinghouse Air Brake Technologies and gave the company a hold rating in a research note on Friday, November 1st. Buckingham Research cut their price target on Westinghouse Air Brake Technologies from $83.00 to $76.00 and set a neutral rating on the stock in a research note on Friday, October 18th. ValuEngine upgraded Westinghouse Air Brake Technologies from a sell rating to a hold rating in a research note on Tuesday, September 10th. Cowen restated a buy rating and issued a $92.00 price target on shares of Westinghouse Air Brake Technologies in a research note on Thursday, October 31st. Finally, Goldman Sachs Group upgraded Westinghouse Air Brake Technologies from a neutral rating to a buy rating and raised their price target for the company from $84.00 to $89.00 in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $82.08.

Shares of NYSE WAB traded down $0.94 during mid-day trading on Friday, hitting $78.87. The company had a trading volume of 808,113 shares, compared to its average volume of 1,964,305. The company has a market capitalization of $15.05 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.72 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.38 and a quick ratio of 0.77. Westinghouse Air Brake Technologies has a 1-year low of $61.00 and a 1-year high of $96.50. The business’s 50-day simple moving average is $71.01 and its 200 day simple moving average is $70.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.02. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Westinghouse Air Brake Technologies had a return on equity of 7.89% and a net margin of 3.24%. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. On average, analysts expect that Westinghouse Air Brake Technologies will post 4.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, November 14th. Westinghouse Air Brake Technologies’s payout ratio is 12.60%.

Hedge funds have recently modified their holdings of the business. Coastal Capital Group Inc. purchased a new position in shares of Westinghouse Air Brake Technologies during the second quarter worth about $25,000. YorkBridge Wealth Partners LLC grew its holdings in shares of Westinghouse Air Brake Technologies by 72.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 393 shares of the transportation company’s stock worth $28,000 after purchasing an additional 165 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new position in shares of Westinghouse Air Brake Technologies during the second quarter worth about $49,000. Captrust Financial Advisors grew its holdings in shares of Westinghouse Air Brake Technologies by 47.5% during the second quarter. Captrust Financial Advisors now owns 950 shares of the transportation company’s stock worth $68,000 after purchasing an additional 306 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC grew its holdings in shares of Westinghouse Air Brake Technologies by 55,450.0% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,111 shares of the transportation company’s stock worth $80,000 after purchasing an additional 1,109 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors.

Westinghouse Air Brake Technologies Company Profile

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.

Further Reading: Stock Symbols and CUSIP Explained

The Fly

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

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.