Deutsche Bank AG Raises Wabco Holdings Inc. (WBC) Price Target to $114.00
Wabco Holdings Inc. (NYSE:WBC) had its price objective upped by research analysts at Deutsche Bank AG from $113.00 to $114.00 in a research note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price target indicates a potential upside of 4.81% from the company’s current price.
Several other analysts have also recently commented on the company. Barclays PLC raised their target price on Wabco Holdings from $103.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Credit Agricole SA began coverage on Wabco Holdings in a research report on Friday, September 30th. They issued an “outperform” rating and a $125.00 target price for the company. Zacks Investment Research raised Wabco Holdings from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Wednesday, September 21st. JPMorgan Chase & Co. decreased their target price on Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 15th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and set a $96.00 price objective (up previously 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 nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $117.92.
Wabco Holdings (NYSE:WBC) traded down 1.53% during midday trading on Wednesday, hitting $108.77. The stock had a trading volume of 679,466 shares. The company’s 50-day moving average price is $108.54 and its 200 day moving average price is $104.43. The stock has a market cap of $6.07 billion, a P/E ratio of 31.29 and a beta of 2.04. Wabco Holdings has a 12-month low of $81.65 and a 12-month high of $115.80.
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Wabco Holdings (NYSE:WBC) last issued its earnings results on Wednesday, July 20th. The company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.03. The business 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%. Wabco Holdings’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 earnings per share. On average, equities research analysts predict that Wabco Holdings will post $5.73 earnings per share for the current fiscal year.
In other news, insider Nick Rens sold 600 shares of Wabco Holdings stock in a transaction dated 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 in the company, valued at $978,001.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of WBC. Lodge Hill Capital LLC purchased a new position in shares of Wabco Holdings during the second quarter valued at about $35,712,000. Bank of Montreal Can purchased a new position in shares of Wabco Holdings during the second quarter valued at about $22,661,000. Harding Loevner LP purchased a new position in shares of Wabco Holdings during the third quarter valued at about $26,395,000. 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 valued at $117,706,000 after buying an additional 198,725 shares in the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of Wabco Holdings by 91.5% in the second quarter. BlackRock Advisors LLC now owns 400,215 shares of the company’s stock valued at $36,648,000 after buying an additional 191,201 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.
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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