Westinghouse Air Brake Technologies (NYSE:WAB) Downgraded to Hold at Wellington Shields

Wellington Shields downgraded shares of Westinghouse Air Brake Technologies (NYSE:WAB) from an accumulate rating to a hold rating in a report released on Thursday, The Fly reports.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus restated a buy rating and set a $170.00 price target on shares of Spotify in a research note on Friday, April 26th. Buckingham Research lowered Westinghouse Air Brake Technologies from a buy rating to a neutral rating and lowered their price target for the company from $93.00 to $81.00 in a research note on Monday, June 24th. ValuEngine lowered Xylem from a buy rating to a hold rating in a research note on Tuesday, May 14th. Citigroup upgraded Welbilt from a neutral rating to a buy rating and boosted their price target for the company from $17.00 to $19.00 in a research note on Wednesday. Finally, Goldman Sachs Group lowered EXPERIAN PLC/ADR from a buy rating to a neutral rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Westinghouse Air Brake Technologies has an average rating of Hold and a consensus target price of $89.90.

Shares of NYSE WAB traded up $0.97 during trading hours on Thursday, hitting $70.77. 12,245 shares of the company’s stock were exchanged, compared to its average volume of 1,411,878. Westinghouse Air Brake Technologies has a 1-year low of $61.95 and a 1-year high of $115.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.35 and a quick ratio of 0.75. The stock has a market cap of $11.46 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. The firm has a 50-day moving average of $68.75.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.26. Westinghouse Air Brake Technologies had a return on equity of 9.11% and a net margin of 4.12%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 50.9% compared to the same quarter last year. On average, research analysts predict that Westinghouse Air Brake Technologies will post 4.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.12 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 12.60%.

In other Westinghouse Air Brake Technologies news, VP David L. Deninno purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of $64.51 per share, for a total transaction of $193,530.00. Following the transaction, the vice president now directly owns 87,066 shares in the company, valued at $5,616,627.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert J. Neupaver purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $65.26 per share, for a total transaction of $652,600.00. Following the completion of the transaction, the director now owns 668,418 shares in the company, valued at $43,620,958.68. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 21,000 shares of company stock worth $1,349,650. Corporate insiders own 6.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAB. Williams Jones & Associates LLC grew its position in Westinghouse Air Brake Technologies by 36.9% during the 1st quarter. Williams Jones & Associates LLC now owns 721,867 shares of the transportation company’s stock worth $53,216,000 after acquiring an additional 194,724 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Westinghouse Air Brake Technologies during the 1st quarter worth approximately $5,492,000. Santori & Peters Inc. grew its position in Westinghouse Air Brake Technologies by 6.1% during the 1st quarter. Santori & Peters Inc. now owns 593,771 shares of the transportation company’s stock worth $43,772,000 after acquiring an additional 33,970 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Westinghouse Air Brake Technologies during the 1st quarter worth approximately $1,855,000. Finally, Hartford Investment Management Co. bought a new stake in Westinghouse Air Brake Technologies during the 1st quarter worth approximately $1,125,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.

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

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