Wabco Holdings Inc. (WBC) Raised to “Buy” at Zacks Investment Research
Wabco Holdings Inc. (NYSE:WBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $119.00 target price on the stock. Zacks Investment Research’s price objective points to a potential upside of 12.21% from the company’s current price.
According to Zacks, “WABCO is one of the world’s leading providers of electronic braking, stability, suspension and transmission control systems for heavy duty commercial vehicles. WABCO products are also increasingly used in luxury cars and sport utility vehicles. “
Several other research firms have also recently weighed in on WBC. Deutsche Bank AG began coverage on Wabco Holdings in a research report on Tuesday, September 6th. They set a “hold” rating and a $113.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 15th. Goldman Sachs Group Inc. lifted their price objective on Wabco Holdings from $105.00 to $106.00 and gave the company a “neutral” rating in a research report on Thursday, July 21st. TheStreet raised Wabco Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, July 20th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $96.00 price objective (up from $94.00) on shares of Wabco Holdings in a research report on Sunday, July 24th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Wabco Holdings has an average rating of “Buy” and a consensus price target of $116.42.
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Wabco Holdings (NYSE:WBC) opened at 106.05 on Wednesday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 30.51 and a beta of 2.10. Wabco Holdings has a 1-year low of $81.66 and a 1-year high of $115.80. The company’s 50-day moving average price is $104.44 and its 200-day moving average price is $103.37.
Wabco Holdings (NYSE:WBC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.03. The business had revenue of $732.20 million for the quarter, compared to analysts’ expectations of $706.60 million. Wabco Holdings had a return on equity of 39.45% and a net margin of 7.28%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. Equities research analysts expect that Wabco Holdings will post $5.72 earnings per share for the current fiscal year.
In other Wabco Holdings news, insider Nick Rens sold 600 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $101.19, for a total transaction of $60,714.00. Following the completion of the sale, the insider now directly owns 9,665 shares in the company, valued at approximately $978,001.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.
Several large investors have recently modified their holdings of WBC. Credit Agricole S A increased its stake in shares of Wabco Holdings by 7.8% in the first quarter. Credit Agricole S A now owns 31,732 shares of the company’s stock worth $3,392,000 after buying an additional 2,283 shares during the last quarter. A.R. Schmeidler & Co. Inc. increased its position in shares of Wabco Holdings by 196.6% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 48,582 shares of the company’s stock valued at $5,194,000 after buying an additional 32,202 shares in the last quarter. M&T Bank Corp increased its position in shares of Wabco Holdings by 12.3% in the first quarter. M&T Bank Corp now owns 4,678 shares of the company’s stock valued at $500,000 after buying an additional 511 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Wabco Holdings by 104.8% in the first quarter. Prudential Financial Inc. now owns 7,620 shares of the company’s stock valued at $815,000 after buying an additional 3,900 shares in the last quarter. Finally, Teachers Advisors Inc. increased its position in shares of Wabco Holdings by 8.2% in the first quarter. Teachers Advisors Inc. now owns 376,989 shares of the company’s stock valued at $40,308,000 after buying an additional 28,567 shares in the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.
About Wabco Holdings
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers. The Company engineers, develops, manufactures and sells systems controlling braking, stability, suspension, transmission automation, as well transmission automation and air management systems for commercial vehicles.
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