CLSA Initiates Coverage on Westinghouse Air Brake Technologies Corp to Buy

CLSA Initiates Coverage on Westinghouse Air Brake Technologies Corp(NYSE:WAB). The shares have been rated Buy. The rating by CLSA was issued on Sep 30, 2016.

In a different note, Deutsche Bank said it Initiates Coverage on Westinghouse Air Brake Technologies Corp, according to a research note issued on Sep 7, 2016. The shares have been rated ‘Buy’ by the firm.

Westinghouse Air Brake Technologies Corp (WAB) made into the market gainers list on Tuesdays trading session with the shares advancing 0.26% or 0.21 points. Due to strong positive momentum, the stock ended at $81.37, which is also near the day’s high of $82.7. The stock began the session at $81.56 and the volume stood at 6,96,542 shares. The 52-week high of the shares is $94.61 and the 52 week low is $60.28. The company has a current market capitalization of $7,333 M and it has 9,01,20,526 shares in outstanding.

Westinghouse Air Brake Technologies Corp(WAB) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $723.60M. Analysts had an estimated revenue of $806.27M. Earnings per share were $1.05. Analysts had estimated an EPS of $1.08.

Several Insider Transactions has been reported to the SEC. On Nov 12, 2015, Steeg Nickolas Vande (director) purchased 6,470 shares at $77.38 per share price.Also, On Sep 1, 2015, Patrick D Dugan (Sr. VP, Chief Financal Officer) sold 13,530 shares at $96.67 per share price.On Aug 27, 2015, Raymond T Betler (President) sold 4,200 shares at $93.88 per share price, according to the Form-4 filing with the securities and exchange commission.

Westinghouse Air Brake Technologies Corporation (Wabtec) is a provider of technology-based products and services to freight rail and passenger transit industries. The Company’s products are used in locomotives freight cars subway cars and buses and other vehicles in United States and other countries across the world. The Company operates through two business segments: the Freight Segment and the Transit Segment. The Freight Segment manufactures and services components for new and existing locomotive and freight cars supplies railway electronics positive train control equipment signal design and engineering services builds switcher locomotives rebuilds freight locomotives and provides heat exchangers and cooling systems for rail and other industrial markets. The Transit Segment manufactures and services components for new and existing passenger transit vehicles such as subway cars and buses builds new commuter locomotives and refurbishes subway cars.

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