Westinghouse Air Brake Technologies (NYSE:WAB) Earns Overweight Rating from Analysts at Atlantic Securities

Atlantic Securities initiated coverage on shares of Westinghouse Air Brake Technologies (NYSE:WABGet Rating) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $101.00 price target on the transportation company’s stock.

A number of other research firms also recently issued reports on WAB. StockNews.com raised shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating in a research note on Sunday, May 1st. Wolfe Research raised shares of Westinghouse Air Brake Technologies from an underperform rating to a market perform rating in a research note on Thursday, April 28th. Finally, Stephens boosted their price target on shares of Westinghouse Air Brake Technologies from $105.00 to $110.00 and gave the company an overweight rating in a research note on Thursday, February 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Westinghouse Air Brake Technologies presently has a consensus rating of Buy and a consensus target price of $100.00.

Shares of WAB stock opened at $88.15 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.72. The firm’s 50-day moving average is $91.15 and its two-hundred day moving average is $91.75. Westinghouse Air Brake Technologies has a 12 month low of $76.30 and a 12 month high of $100.04. The company has a market capitalization of $16.10 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.51.

Westinghouse Air Brake Technologies (NYSE:WABGet Rating) last issued its earnings results on Wednesday, April 27th. The transportation company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.64. Westinghouse Air Brake Technologies had a net margin of 7.51% and a return on equity of 8.27%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. Westinghouse Air Brake Technologies’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Westinghouse Air Brake Technologies will post 4.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, May 19th. Westinghouse Air Brake Technologies’s payout ratio is currently 18.93%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in Westinghouse Air Brake Technologies by 2.4% during the 1st quarter. Rhumbline Advisers now owns 282,492 shares of the transportation company’s stock worth $27,167,000 after buying an additional 6,529 shares during the period. Neuberger Berman Group LLC grew its holdings in Westinghouse Air Brake Technologies by 2,233.1% during the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock worth $23,589,000 after acquiring an additional 234,764 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Westinghouse Air Brake Technologies by 236.1% during the 4th quarter. BNP Paribas Arbitrage SA now owns 197,245 shares of the transportation company’s stock worth $18,168,000 after acquiring an additional 138,551 shares in the last quarter. United Capital Financial Advisers LLC grew its holdings in Westinghouse Air Brake Technologies by 0.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 152,422 shares of the transportation company’s stock worth $14,658,000 after acquiring an additional 900 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in Westinghouse Air Brake Technologies by 4.9% during the 1st quarter. WASHINGTON TRUST Co now owns 146,177 shares of the transportation company’s stock worth $14,058,000 after acquiring an additional 6,845 shares in the last quarter. 91.70% of the stock is currently owned by hedge funds and other institutional investors.

About Westinghouse Air Brake Technologies (Get Rating)

Westinghouse Air Brake Technologies Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit industries worldwide. It operates through two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new commuter 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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