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.

Several institutional investors have recently made changes to their positions in WAB. Williams Jones & Associates LLC raised its stake 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 valued at $53,216,000 after purchasing an additional 194,724 shares during the last quarter. Capital Bank & Trust Co increased its holdings in shares of Westinghouse Air Brake Technologies by 14.5% during the 2nd quarter. Capital Bank & Trust Co now owns 956,722 shares of the transportation company’s stock worth $68,548,000 after purchasing an additional 121,236 shares during the period. Thompson Investment Management Inc. increased its holdings in shares of Westinghouse Air Brake Technologies by 1,037.2% during the 2nd quarter. Thompson Investment Management Inc. now owns 58,507 shares of the transportation company’s stock worth $4,198,000 after purchasing an additional 53,362 shares during the period. United Capital Financial Advisers LLC raised its position in shares of Westinghouse Air Brake Technologies by 35.6% during the second quarter. United Capital Financial Advisers LLC now owns 197,199 shares of the transportation company’s stock valued at $14,151,000 after buying an additional 51,814 shares during the last quarter. Finally, Beddow Capital Management Inc. raised its position in shares of Westinghouse Air Brake Technologies by 432.2% during the second quarter. Beddow Capital Management Inc. now owns 57,987 shares of the transportation company’s stock valued at $4,161,000 after buying an additional 47,092 shares during the last quarter. Institutional investors and hedge funds own 92.47% of the company’s stock.

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.

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

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