What’s Next for Westinghouse Air Brake Technologies Corporation (WAB) After Forming Double Bottom Chart Pattern?

February 15, 2018 - By Darrin Black

Investors sentiment decreased to 0.82 in Q3 2017. Its down 0.39, from 1.21 in 2017Q2. It dived, as 48 investors sold Westinghouse Air Brake Technologies Corporation shares while 133 reduced holdings. 35 funds opened positions while 113 raised stakes. 101.47 million shares or 2.77% more from 98.74 million shares in 2017Q2 were reported.
Livforsakringsbolaget Skandia Omsesidigt holds 2,100 shares. Skylands Cap Ltd invested 0.06% of its portfolio in Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Tiaa Cref Mgmt reported 0.01% stake. Sumitomo Mitsui Inc has 261,759 shares. Veritable Limited Partnership has invested 0.01% in Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Mason Street Advsr Limited Liability Company reported 0.08% of its portfolio in Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Arrowmark Colorado Lc accumulated 1.19 million shares or 1.03% of the stock. Wolverine Asset Mgmt Ltd Liability Company holds 0.02% or 28,930 shares. Baillie Gifford & invested in 4.66 million shares. Cibc Asset Mngmt Inc holds 0% of its portfolio in Westinghouse Air Brake Technologies Corporation (NYSE:WAB) for 5,452 shares. Northwestern Mutual Wealth Company owns 236 shares. Aristotle Capital Boston Limited holds 0.59% or 86,831 shares in its portfolio. Creative Planning invested in 0% or 2,662 shares. Columbia Wanger Asset Management Limited Liability Com holds 0.19% of its portfolio in Westinghouse Air Brake Technologies Corporation (NYSE:WAB) for 171,126 shares. Goldman Sachs Group invested in 0.03% or 1.58 million shares.

Since October 30, 2017, it had 0 insider purchases, and 1 sale for $145,884 activity.

The chart of Westinghouse Air Brake Technologies Corporation (WAB) shows a double bottom with $69.95 target or 6.00 % below today’s $74.42 share price. The 5 months chart pattern indicates high risk for the $7.14B company. It was reported on Feb, 15 by Finviz.com. If the $69.95 price target is reached, the company will be worth $428.64M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.66% or $1.215 during the last trading session, reaching $74.415. About 301,847 shares traded. Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has risen 7.39% since February 15, 2017 and is uptrending. It has underperformed by 9.31% the S&P500.

Analysts await Westinghouse Air Brake Technologies Corporation (NYSE:WAB) to report earnings on February, 20. They expect $0.95 EPS, up 17.28 % or $0.14 from last year’s $0.81 per share. WAB’s profit will be $91.20M for 19.58 P/E if the $0.95 EPS becomes a reality. After $0.88 actual EPS reported by Westinghouse Air Brake Technologies Corporation for the previous quarter, Wall Street now forecasts 7.95 % EPS growth.

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

Among 15 analysts covering Wabtec (NYSE:WAB), 9 have Buy rating, 0 Sell and 6 Hold. Therefore 60% are positive. Wabtec had 29 analyst reports since December 21, 2015 according to SRatingsIntel. The stock of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has “Outperform” rating given on Wednesday, October 26 by Wolfe Research. On Wednesday, July 26 the stock rating was downgraded by Edward Jones to “Hold”. The stock has “Hold” rating by Stifel Nicolaus on Friday, February 9. Stifel Nicolaus maintained Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Wednesday, October 25 with “Hold” rating. Berenberg initiated Westinghouse Air Brake Technologies Corporation (NYSE:WAB) rating on Thursday, September 7. Berenberg has “Hold” rating and $81.0 target. Wellington Shields upgraded Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Friday, April 7 to “Gradually Accumulate” rating. Deutsche Bank downgraded Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Thursday, July 13 to “Hold” rating. The rating was maintained by Stifel Nicolaus on Monday, September 11 with “Hold”. The firm has “Buy” rating given on Wednesday, December 13 by Cowen & Co. The stock of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has “Neutral” rating given on Thursday, February 4 by Goldman Sachs.

More notable recent Westinghouse Air Brake Technologies Corporation (NYSE:WAB) news were published by: Nasdaq.com which released: “Westinghouse Air Brake Technologies Corporation (WAB) Ex-Dividend Date …” on November 09, 2017, also Fool.com with their article: “Westinghouse Air Brake Technologies Corp Rides Its Latest Acquisition to …” published on July 25, 2017, Gurufocus.com published: “Speece Thorson Capital Group Inc Buys Hormel Foods Corp, Westinghouse Air …” on February 08, 2018. More interesting news about Westinghouse Air Brake Technologies Corporation (NYSE:WAB) were released by: Fool.com and their article: “Westinghouse Air Brake Technologies Corp.’s Latest Acquisition Keeps Driving …” published on October 24, 2017 as well as Nasdaq.com‘s news article titled: “Westinghouse Air Brake Technologies Corporation (WAB) Ex-Dividend Date …” with publication date: February 07, 2018.

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