Goldman Sachs Group Begins Coverage on Westinghouse Air Brake Technologies (NYSE:WAB)

Goldman Sachs Group assumed coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research note published on Wednesday morning, The Fly reports. The brokerage issued a neutral rating on the transportation company’s stock.

A number of other equities analysts have also issued reports on WAB. Stifel Nicolaus reissued a buy rating and set a $170.00 price target on shares of Spotify in a report on Friday, April 26th. Wells Fargo & Co set a $95.00 price target on Westinghouse Air Brake Technologies and gave the stock a buy rating in a report 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 stock from $93.00 to $81.00 in a report on Monday, June 24th. ValuEngine lowered Xylem from a buy rating to a hold rating in a report on Tuesday, May 14th. Finally, Citigroup raised Welbilt from a neutral rating to a buy rating and raised their price target for the stock from $17.00 to $19.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Westinghouse Air Brake Technologies has an average rating of Hold and a consensus price target of $89.90.

Shares of WAB stock opened at $72.04 on Wednesday. The business’s 50-day moving average price is $68.90. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40. 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 quick ratio of 0.75 and a current ratio of 1.35.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.06 earnings per share (EPS) 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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 50.9% compared to the same quarter last year. On average, research analysts forecast that Westinghouse Air Brake Technologies will post 4.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 12.60%.

In other Westinghouse Air Brake Technologies news, Director William E. Kassling acquired 8,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $62.94 per share, with a total value of $503,520.00. Following the acquisition, the director now owns 69,730 shares of the company’s stock, valued at $4,388,806.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David L. Deninno acquired 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was acquired at an average cost of $64.51 per share, for a total transaction of $193,530.00. Following the acquisition, the vice president now directly owns 87,066 shares in the company, valued at approximately $5,616,627.66. The disclosure for this purchase can be found here. Insiders acquired a total of 21,000 shares of company stock worth $1,349,650 in the last ninety days. 6.56% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. PRW Wealth Management LLC purchased a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at approximately $28,000. Cullen Frost Bankers Inc. purchased a new stake in Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $34,000. RPG Investment Advisory LLC boosted its holdings in Westinghouse Air Brake Technologies by 545.0% in the 1st quarter. RPG Investment Advisory LLC now owns 645 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 545 shares in the last quarter. Iat Reinsurance Co. LTD. purchased a new stake in Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $48,000. Finally, Cribstone Capital Management LLC purchased a new stake in Westinghouse Air Brake Technologies in the 1st quarter valued at approximately $49,000. 92.44% of the stock is currently owned by institutional investors.

Westinghouse Air Brake Technologies Company Profile

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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