Stifel: Upgrade Given to Shares of Wabtec (NYSE:WAB)


Wabtec (NYSE:WAB) Stock Upgrade

The previous rating of a Hold on shares of Wabtec (NYSE:WAB) no longer valid. Analysts at Stifel have upgraded the stock rating to a respectable Buy. The firm now has a target price of $88 for WAB.

The stock decreased 2.03% or $1.43 on December 18, striking $68.89. Approximately shares of stock traded hands. Westinghouse Air Brake Technologies Corp (NYSE:WAB) has declined 32.55% since May 18, 2015 and is downtrending. It has underperformed by 26.75% the S&P500.

The overall sentiment of institutions has decreased to 1.2 in Q2 2015. Its down 0.09, from 1.29 in 2015Q2. The ratio worsened, as 38 institutions have sold all the shares of Westinghouse Air Brake Technologies Corp that they owned while 146 funds have taken shares off the table. 43 funds have purchased shares for the first time while 177 added to their positions. These institutions now hold 83.19 million shares or 4.70% less than the 87.29 million shares they owned in 2015Q2.

The Fund Mycio Wealth Partners Llc currently is holding shares equating to 13.43% of its total portfolio in Westinghouse Air Brake Technologies Corp representing a total of 745,000 shares. Another fund,Cryder Capital Partners Llp, is holding a total of 179,056 shares equating to 10.19% of their holdings. Additionally, Springbank Value Partners Lp has a 58,300 share stake in Westinghouse Air Brake Technologies Corp which represents 9.85% of their total portfolio. The Fund, Value Holdings Lp, based out of New York, has also built up a stake in the stock, which represents a total of 9.79% of their total portfolio. Finally Capital Counsel Llc Ny, a fund which is based in the state of New York reported a total holdings of 1.58 million shares.

Insider activity is a very important aspect to track on any stock. Going back to April 29, 2015, shareholders of Westinghouse Air Brake Technologies Corp have witnessed 0 insider purchases, and a total of 9 insider sales equating to a net activity of approximately $9.22 million . Dugan Patrick D sold 13,530 shares worth approximately $1.31 million. Betler Raymond T sold 4,200 shares worth approximately $394,296. Kovac Charles F sold 11,500 shares worth approximately $1.16 million. Hehir Brian sold 1,500 shares worth approximately $151,335. The company insider Howell Michael W D sold 10,000 shares worth $1.02 million.

Westinghouse Air Brake Technologies Corporation is a well-known provider of technology services and products to freight rail and passenger transit industries. The company has a market cap of $6.65 billion. 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. It has 17.25 P/E ratio. The Firm operates through two business divisions: the Freight Segment and the Transit Segment.

According to Zacks Investment Research, “Wabtec Corporation is one of North America’s largest providers of value-added, technology-based products and services for the rail industry. Through its subsidiaries, the company manufactures a full range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new locomotives up to 4,000 horsepower and provides aftermarket services, including locomotive and freight car fleet maintenance. (PRESS RELEASE)”