Wabtec (WAB) Rating Lowered to Hold at Wellington Shields

Wabtec (NYSE:WAB) was downgraded by investment analysts at Wellington Shields from a “gradually accumulate” rating to a “hold” rating in a research note issued on Wednesday, MarketBeat.com reports.

A number of other analysts have also recently commented on WAB. Stifel Nicolaus set a $68.00 price objective on shares of Wabtec and gave the company a “hold” rating in a research report on Friday, February 9th. Wolfe Research upgraded Wabtec from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Friday, February 16th. Cowen reiterated a “buy” rating and set a $90.00 target price on shares of Wabtec in a report on Tuesday, February 20th. B. Riley set a $85.00 target price on Wabtec and gave the stock a “hold” rating in a report on Wednesday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Wabtec in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $93.83.

WAB opened at $94.15 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.50 and a quick ratio of 0.99. Wabtec has a 12 month low of $93.97 and a 12 month high of $95.02. The firm has a market capitalization of $8.97 billion, a P/E ratio of 27.45, a PEG ratio of 2.10 and a beta of 0.91.

Wabtec (NYSE:WAB) last released its quarterly earnings data on Tuesday, April 24th. The transportation company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.02. Wabtec had a net margin of 6.88% and a return on equity of 12.13%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. sell-side analysts forecast that Wabtec will post 3.85 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in WAB. SG Americas Securities LLC bought a new position in shares of Wabtec in the 4th quarter valued at about $1,716,000. Beck Mack & Oliver LLC grew its holdings in shares of Wabtec by 11.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 665,963 shares of the transportation company’s stock valued at $54,229,000 after acquiring an additional 69,504 shares in the last quarter. Patten Group Inc. grew its holdings in shares of Wabtec by 55.5% in the 4th quarter. Patten Group Inc. now owns 5,195 shares of the transportation company’s stock valued at $423,000 after acquiring an additional 1,855 shares in the last quarter. Emerald Advisers Inc. PA bought a new position in shares of Wabtec in the 4th quarter valued at about $327,000. Finally, Boston Common Asset Management LLC grew its holdings in shares of Wabtec by 14.7% in the 4th quarter. Boston Common Asset Management LLC now owns 9,855 shares of the transportation company’s stock valued at $802,000 after acquiring an additional 1,260 shares in the last quarter.

Wabtec Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

Analyst Recommendations for Wabtec (NYSE:WAB)

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