Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.
Several other equities analysts have also weighed in on WAB. Bank of America increased their price target on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. KeyCorp increased their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Finally, Stephens restated an "overweight" rating and set a $220.00 price target on shares of Westinghouse Air Brake Technologies in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Westinghouse Air Brake Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $206.33.
Check Out Our Latest Report on Westinghouse Air Brake Technologies
Westinghouse Air Brake Technologies Stock Down 1.2 %
Shares of NYSE WAB traded down $2.20 during trading on Monday, hitting $177.69. The stock had a trading volume of 1,020,180 shares, compared to its average volume of 1,034,094. The company has a market capitalization of $30.36 billion, a PE ratio of 29.47, a PEG ratio of 1.50 and a beta of 1.31. The firm has a fifty day moving average of $195.35 and a two-hundred day moving average of $189.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.69. Westinghouse Air Brake Technologies has a 12 month low of $139.12 and a 12 month high of $210.88.
Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. As a group, equities research analysts forecast that Westinghouse Air Brake Technologies will post 8.54 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Rafael Santana sold 886 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $182.34, for a total value of $161,553.24. Following the sale, the chief executive officer now directly owns 176,295 shares of the company's stock, valued at approximately $32,145,630.30. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.
Institutional Investors Weigh In On Westinghouse Air Brake Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the company. Bridges Investment Management Inc. raised its stake in Westinghouse Air Brake Technologies by 3.4% in the third quarter. Bridges Investment Management Inc. now owns 2,357 shares of the transportation company's stock valued at $428,000 after purchasing an additional 77 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Westinghouse Air Brake Technologies in the third quarter valued at approximately $7,128,000. Camden National Bank purchased a new stake in Westinghouse Air Brake Technologies in the third quarter valued at approximately $222,000. Harvest Fund Management Co. Ltd raised its stake in Westinghouse Air Brake Technologies by 10.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,820 shares of the transportation company's stock valued at $331,000 after purchasing an additional 172 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Westinghouse Air Brake Technologies by 5.2% in the third quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company's stock valued at $50,665,000 after purchasing an additional 13,683 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.
Westinghouse Air Brake Technologies Company Profile
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Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.
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