Westinghouse Air Brake Technologies (NYSE:WAB) Now Covered by Raymond James – Defense World
Posted by admin on Aug 20th, 2022 
Equities researchers at Raymond James assumed coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) in a research note issued on Thursday, The Fly reports. The firm set an “outperform” rating and a $103.00 price target on the transportation company’s stock. Raymond James’ price target would indicate a potential upside of 10.09% from the stock’s current price.
WAB has been the topic of a number of other research reports. StockNews.com raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, May 1st. Morgan Stanley lifted their price objective on Westinghouse Air Brake Technologies from $84.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Monday, August 8th. Atlantic Securities started coverage on Westinghouse Air Brake Technologies in a research note on Monday, May 23rd. They issued an “overweight” rating and a $101.00 price objective on the stock. Finally, Wolfe Research raised Westinghouse Air Brake Technologies from an “underperform” rating to a “market perform” rating in a research note on Thursday, April 28th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.
NYSE WAB opened at $93.56 on Thursday. The stock’s 50 day moving average is $87.49 and its 200 day moving average is $90.20. The company has a current ratio of 1.27, a quick ratio of 0.67 and a debt-to-equity ratio of 0.40. Westinghouse Air Brake Technologies has a 12 month low of $78.26 and a 12 month high of $100.04. The stock has a market cap of $17.09 billion, a PE ratio of 27.36, a P/E/G ratio of 1.46 and a beta of 1.53.
Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last posted its quarterly earnings results on Friday, August 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.01. Westinghouse Air Brake Technologies had a return on equity of 8.57% and a net margin of 7.99%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm earned $1.06 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Research analysts predict that Westinghouse Air Brake Technologies will post 4.9 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in shares of Westinghouse Air Brake Technologies by 12.1% during the 2nd quarter. Rhumbline Advisers now owns 316,576 shares of the transportation company’s stock valued at $25,985,000 after purchasing an additional 34,084 shares during the last quarter. Forsta AP Fonden bought a new position in Westinghouse Air Brake Technologies in the 2nd quarter valued at $2,700,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Westinghouse Air Brake Technologies by 0.4% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 33,237 shares of the transportation company’s stock valued at $2,728,000 after acquiring an additional 132 shares during the last quarter. Border to Coast Pensions Partnership Ltd grew its position in Westinghouse Air Brake Technologies by 15.2% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 165,789 shares of the transportation company’s stock valued at $9,201,051,000 after acquiring an additional 21,832 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Westinghouse Air Brake Technologies by 3.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 637,476 shares of the transportation company’s stock valued at $52,322,000 after acquiring an additional 21,810 shares during the last quarter. Institutional investors own 91.70% of the company’s stock.
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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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