Wabco Holdings Inc. (WBC) Earns “Market Outperform” Rating from Avondale Partners
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “market outperform” rating reaffirmed by analysts at Avondale Partners in a note issued to investors on Monday.
Several other research firms have also recently commented on WBC. Credit Agricole SA assumed coverage on shares of Wabco Holdings in a report on Friday, September 30th. They set an “outperform” rating and a $125.00 price target for the company. Barclays PLC raised their price target on shares of Wabco Holdings from $103.00 to $107.00 and gave the stock an “equal weight” rating in a report on Wednesday. Deutsche Bank AG raised their price target on shares of Wabco Holdings from $113.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Wabco Holdings from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Wednesday, September 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 15th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Wabco Holdings presently has a consensus rating of “Buy” and an average price target of $117.92.
Shares of Wabco Holdings (NYSE:WBC) traded down 0.91% during trading on Monday, hitting $109.45. 175,813 shares of the company traded hands. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 31.49 and a beta of 2.04. Wabco Holdings has a one year low of $81.66 and a one year high of $115.80. The firm has a 50 day moving average price of $108.49 and a 200-day moving average price of $104.40.
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Wabco Holdings (NYSE:WBC) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.43 EPS for the quarter, topping the 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 net margin of 7.28% and a return on equity of 39.45%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.40 earnings per share. Analysts predict that Wabco Holdings will post $5.73 EPS for the current year.
In related 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 transaction, the insider now owns 9,665 shares of the company’s stock, valued at $978,001.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Wabco Holdings by 7.8% in the first quarter. Geode Capital Management LLC now owns 339,992 shares of the company’s stock valued at $36,329,000 after buying an additional 24,622 shares during the period. British Columbia Investment Management Corp raised its stake in shares of Wabco Holdings by 4.6% in the second quarter. British Columbia Investment Management Corp now owns 64,539 shares of the company’s stock valued at $5,910,000 after buying an additional 2,827 shares during the period. Westpac Banking Corp raised its stake in shares of Wabco Holdings by 20.2% in the second quarter. Westpac Banking Corp now owns 3,836 shares of the company’s stock valued at $351,000 after buying an additional 644 shares during the period. State Street Corp raised its stake in shares of Wabco Holdings by 2.7% in the first quarter. State Street Corp now owns 932,092 shares of the company’s stock valued at $99,651,000 after buying an additional 24,498 shares during the period. Finally, Prudential Financial Inc. raised its stake 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 during the period. 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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