Wabco Holdings Inc. (WBC) Stock Rating Upgraded by Zacks Investment Research
Wabco Holdings Inc. (NYSE:WBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $119.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 12.21% from the company’s previous close.
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. “
A number of other brokerages also recently weighed in on WBC. Deutsche Bank AG assumed coverage on Wabco Holdings in a report on Tuesday, September 6th. They set a “hold” rating and a $113.00 price target for the company. JPMorgan Chase & Co. decreased their price target on Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 15th. Goldman Sachs Group Inc. increased their price target on Wabco Holdings from $105.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, July 21st. TheStreet upgraded Wabco Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 20th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and set a $96.00 price target (up from $94.00) on shares of Wabco Holdings in a report on Sunday, July 24th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $116.42.
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Shares of Wabco Holdings (NYSE:WBC) opened at 106.05 on Wednesday. The firm has a market capitalization of $5.92 billion, a PE ratio of 30.51 and a beta of 2.10. The company’s 50-day moving average price is $104.44 and its 200-day moving average price is $103.37. Wabco Holdings has a 12-month low of $81.66 and a 12-month high of $115.80.
Wabco Holdings (NYSE:WBC) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.03. Wabco Holdings had a return on equity of 39.45% and a net margin of 7.28%. The firm earned $732.20 million during the quarter, compared to the consensus estimate of $706.60 million. During the same period last year, the business posted $1.40 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Wabco Holdings will post $5.72 EPS for the current year.
In other Wabco Holdings news, insider Nick Rens sold 600 shares of Wabco Holdings stock in a transaction that occurred 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 transaction, the insider now owns 9,665 shares of the company’s stock, valued at approximately $978,001.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. boosted its position in 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 in the last quarter. Royal Bank of Canada boosted its position in 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 in the last quarter. Public Employees Retirement System of Ohio boosted its position in 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 in the last quarter. Calvert Investment Management Inc. raised its stake 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 last quarter. Finally, Stifel Financial Corp raised its stake 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 last quarter. 95.33% of the stock is currently owned by hedge funds and other institutional investors.
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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