Wabco Holdings Inc. (WBC) Shares Gap Down to $106.05
Shares of Wabco Holdings Inc. (NYSE:WBC) gapped down prior to trading on Wednesday . The stock had previously closed at $105.80, but opened at $106.05. Wabco Holdings shares last traded at $108.24, with a volume of 149,591 shares traded.
A number of research firms have recently weighed in on WBC. Zacks Investment Research raised shares of Wabco Holdings from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Wednesday. Deutsche Bank AG assumed coverage on shares of Wabco Holdings in a research note on Tuesday, September 6th. They issued a “hold” rating and a $113.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 15th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $96.00 price target (up previously from $94.00) on shares of Wabco Holdings in a research note on Sunday, July 24th. Finally, TheStreet upgraded shares of Wabco Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 20th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Wabco Holdings presently has an average rating of “Buy” and an average price target of $116.42.
The firm has a market cap of $6.07 billion, a PE ratio of 31.32 and a beta of 2.10. The firm has a 50-day moving average of $104.75 and a 200 day moving average of $103.41.
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Wabco Holdings (NYSE:WBC) last issued its earnings results on Wednesday, July 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.03. The company earned $732.20 million during 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 firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. On average, equities analysts expect that Wabco Holdings Inc. 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 company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $101.19, for a total value 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 can be accessed through this link. 0.79% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in WBC. Nomura Holdings Inc. raised its position in shares of Wabco Holdings by 11.2% in the second quarter. Nomura Holdings Inc. now owns 3,500 shares of the company’s stock valued at $320,000 after buying an additional 352 shares during the period. Royal Bank of Canada raised its position in shares of Wabco Holdings by 53.2% in the second quarter. Royal Bank of Canada now owns 21,758 shares of the company’s stock valued at $1,993,000 after buying an additional 7,557 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Wabco Holdings by 50.2% in the second quarter. Public Employees Retirement System of Ohio now owns 40,245 shares of the company’s stock valued at $3,685,000 after buying an additional 13,446 shares during the period. Calvert Investment Management Inc. raised its position in shares of Wabco Holdings by 2.5% in the second quarter. Calvert Investment Management Inc. now owns 4,258 shares of the company’s stock valued at $390,000 after buying an additional 103 shares during the period. Finally, Stifel Financial Corp raised its position in shares of Wabco Holdings by 20.2% in the second quarter. Stifel Financial Corp now owns 9,737 shares of the company’s stock valued at $892,000 after buying an additional 1,635 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.
Wabco Holdings Company Profile
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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