Barclays PLC Increases Wabco Holdings Inc. (WBC) Price Target to $107.00
Wabco Holdings Inc. (NYSE:WBC) had its price target boosted by equities research analysts at Barclays PLC from $103.00 to $107.00 in a note issued to investors on Wednesday. The firm presently has an “equal weight” rating on the stock. Barclays PLC’s price objective would suggest a potential downside of 3.13% from the stock’s previous close.
Several other research firms have also recently weighed in on WBC. Credit Agricole SA started coverage on Wabco Holdings in a report on Friday, September 30th. They set an “outperform” rating and a $125.00 price objective on the stock. Piper Jaffray Cos. cut Wabco Holdings from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $124.00 to $94.00 in a report on Tuesday, June 28th. Goldman Sachs Group Inc. cut Wabco Holdings from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $105.00 in a report on Tuesday, June 28th. Zacks Investment Research upgraded Wabco Holdings from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a report on Wednesday, September 21st. Finally, Bank of America Corp. cut Wabco Holdings from a “buy” rating to a “neutral” rating in a report on Thursday, July 7th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $117.92.
Shares of Wabco Holdings (NYSE:WBC) traded down 0.64% on Wednesday, reaching $109.75. 74,363 shares of the company’s stock were exchanged. The company has a market capitalization of $6.12 billion, a P/E ratio of 31.57 and a beta of 2.04. The firm’s 50 day moving average price is $108.49 and its 200-day moving average price is $104.40. Wabco Holdings has a 12 month low of $81.66 and a 12 month high of $115.80.
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Wabco Holdings (NYSE:WBC) last released 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. Wabco Holdings had a return on equity of 39.45% and a net margin of 7.28%. The business had revenue of $732.20 million for the quarter, compared to analysts’ expectations of $706.60 million. During the same quarter in the previous year, the business posted $1.40 EPS. Wabco Holdings’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Wabco Holdings will post $5.73 EPS for the current 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 transaction, the insider now directly owns 9,665 shares of the company’s stock, valued at approximately $978,001.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.79% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WBC. Vanguard Group Inc. raised its position in shares of Wabco Holdings by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,881,206 shares of the company’s stock worth $355,401,000 after buying an additional 55,941 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Wabco Holdings by 1.2% in the first quarter. Wellington Management Group LLP now owns 2,373,449 shares of the company’s stock worth $253,770,000 after buying an additional 28,024 shares in the last quarter. American Century Companies Inc. raised its position in shares of Wabco Holdings by 4.3% in the second quarter. American Century Companies Inc. now owns 2,352,715 shares of the company’s stock worth $215,438,000 after buying an additional 97,055 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Wabco Holdings by 4.7% in the second quarter. Artisan Partners Limited Partnership now owns 2,235,732 shares of the company’s stock worth $204,726,000 after buying an additional 101,083 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its position in shares of Wabco Holdings by 18.3% in the second quarter. TimesSquare Capital Management LLC now owns 1,285,425 shares of the company’s stock worth $117,706,000 after buying an additional 198,725 shares in the last quarter. 95.33% of the stock is currently 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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