Stifel Nicolaus Downgrades Westinghouse Air to Hold

By Ryan Adsit

In a report released today, Michael Baudendistel from Stifel Nicolaus downgraded Westinghouse Air (NYSE: WAB) to Hold. The company’s shares closed on Friday at $89.84, close to its 52-week high of $93.81.

According to TipRanks.com, Baudendistel is a 3-star analyst with an average return of 3.6% and a 66.7% success rate. Baudendistel covers the Industrial Goods sector, focusing on stocks such as Wabash National Corp, Freightcar America, and Trinity Industries.

Westinghouse Air has an analyst consensus of Moderate Buy, with a price target consensus of $102.

Based on Westinghouse Air’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $916 million and quarterly net profit of $73.67 million. In comparison, last year the company earned revenue of $724 million and had a net profit of $90.22 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2017, Albert Neupaver, the EC of WAB sold 60,000 shares for a total of $5,079,483.

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Westinghouse Air Brake Technologies Corp. engages in the provision of value added technology based equipment and services for the global rail industry. It operates through the following segments: Freight and Transit.