What’s in Westinghouse Air Brake Technologies Corp After Today’s Bearish Options Activity?

 What's in Westinghouse Air Brake Technologies Corp After Today's Bearish Options Activity?

In today’s session Westinghouse Air Brake Technologies Corp (WAB) recorded an unusually high (1,038) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious WAB decrease. With 1,038 contracts traded and 1914 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: WAB161118P00075000 closed last at: $1.15 or 4.2% down. About 155,760 shares traded hands. Westinghouse Air Brake Technologies Corp (NYSE:WAB) has declined 3.86% since March 31, 2016 and is downtrending. It has underperformed by 6.38% the S&P500.

Westinghouse Air Brake Technologies Corp (NYSE:WAB) Ratings Coverage

Out of 6 analysts covering Wabtec (NYSE:WAB), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Wabtec has been the topic of 7 analyst reports since December 21, 2015 according to StockzIntelligence Inc. On Thursday, February 4 the stock rating was downgraded by Goldman Sachs to “Neutral”. The stock of Westinghouse Air Brake Technologies Corp (NYSE:WAB) has “Buy” rating given on Friday, September 30 by CLSA. The firm has “Buy” rating given on Wednesday, September 7 by Deutsche Bank. On Monday, December 21 the stock rating was upgraded by Stifel Nicolaus to “Buy”. The firm has “Outperform” rating given on Wednesday, October 26 by Wolfe Research. The firm has “Neutral” rating given on Wednesday, October 26 by Longbow.

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)”

Insitutional Activity: The institutional sentiment increased to 1.11 in 2016 Q2. Its up 0.30, from 0.81 in 2016Q1. The ratio improved, as 31 funds sold all Westinghouse Air Brake Technologies Corp shares owned while 149 reduced positions. 59 funds bought stakes while 140 increased positions. They now own 91.13 million shares or 0.09% more from 91.05 million shares in 2016Q1.
The California-based Cetera Advisor Limited Liability Corporation has invested 0.02% in Westinghouse Air Brake Technologies Corp (NYSE:WAB). Atlantic Gp Limited Liability, a Georgia-based fund reported 77,963 shares. Verition Fund Ltd Limited Liability Company holds 6,409 shares or 0.06% of its portfolio. Moreover, Neuberger Berman Grp Limited Liability has 0.26% invested in Westinghouse Air Brake Technologies Corp (NYSE:WAB) for 2.70M shares. Frontier Cap Management Lc has 0.5% invested in the company for 860,682 shares. Appleton Prns Ma has invested 1.26% of its portfolio in Westinghouse Air Brake Technologies Corp (NYSE:WAB). The Illinois-based Roberts Glore And Company Il has invested 0.21% in Westinghouse Air Brake Technologies Corp (NYSE:WAB). The Georgia-based Southeast Asset Advisors has invested 0.34% in Westinghouse Air Brake Technologies Corp (NYSE:WAB). Minneapolis Management Group Inc Ltd Liability Com last reported 107,726 shares in the company. The New York-based D E Shaw & Incorporated has invested 0% in Westinghouse Air Brake Technologies Corp (NYSE:WAB). The Netherlands-based Apg Asset Nv has invested 0.01% in Westinghouse Air Brake Technologies Corp (NYSE:WAB). Victory Capital Management last reported 0% of its portfolio in the stock. Kingfisher Ltd Liability Company has 0% invested in the company for 17,096 shares. Fincl Bank Of Montreal Can, a Ontario – Canada-based fund reported 85,873 shares. The Germany-based Commerzbank Aktiengesellschaft Fi has invested 0% in Westinghouse Air Brake Technologies Corp (NYSE:WAB).

Westinghouse Air Brake Technologies Corporation , doing business as Wabtec Corporation, is a well-known provider of technology equipment and services for the global rail industry. The company has a market cap of $6.74 billion. The Firm primarily serves the freight rail and passenger transit industries. It has a 18.57 P/E ratio. The Firm provides its services and products through two principal business divisions: the Freight Segment and the Transit Segment.

WAB Company Profile

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, incorporated on October 19, 1989, is a well-known provider of technology equipment and services for the global rail industry. The Firm primarily serves the freight rail and passenger transit industries. The Firm provides its services and products through two principal business divisions: the Freight Segment and the Transit Segment. The Company’s product lines in both aftermarket and original equipment, including specialty products and electronics, brake products, remanufacturing, overhaul and build, and transit products. The Company’s specialty products and electronics product line includes positive train control equipment and electronically controlled pneumatic braking products; railway electronics, including event recorders, monitoring equipment and end of train devices; signal design and engineering services; freight car truck components; draft gears, couplers and slack adjusters; air compressors and dryers; heat exchangers and cooling products for locomotives and power generation equipment, and track and switch products. The Company’s brake products include railway braking equipment and related components for freight and transit applications; friction products, including brake shoes and pads. The Company’s remanufacturing, overhaul and build product line includes commuter and switcher locomotives, and transit car, and locomotive overhaul and refurbishment. The Company’s transit products include door and window assemblies for buses and subway cars; accessibility lifts and ramps for buses and subway cars, and traction motors. The Company’s clients include railroads and passenger transit authorities throughout North America, as well as in the United Kingdom, Australia, Europe, Asia, South Africa and South America.

More notable recent Westinghouse Air Brake Technologies Corp (NYSE:WAB) news were published by: Fool.com which released: “Sluggish Conditions Continue to Derail Westinghouse Air Brake Technologies …” on October 25, 2016, also Moodys.com with their article: “Moody’s assigns Baa3 rating to Wabtec’s new senior unsecured notes” published on October 31, 2016, Fool.com published: “Global Economic Headwinds Derail Westinghouse Air Brake Technologies Corp.’s …” on July 25, 2016. More interesting news about Westinghouse Air Brake Technologies Corp (NYSE:WAB) were released by: Fool.com and their article: “What to Watch When Westinghouse Air Brake Technologies Corp. Reports Earnings” published on April 22, 2016 as well as Fool.com‘s news article titled: “Challenging Conditions Cause Westinghouse Air Brake Technologies Corp’s Sales …” with publication date: April 26, 2016.

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