Wabco Holdings Inc. (WBC) Given “Market Outperform” Rating at Avondale Partners
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “market outperform” rating reiterated by equities researchers at Avondale Partners in a research note issued to investors on Monday.
Several other research analysts have also weighed in on the stock. Piper Jaffray Cos. lowered shares of Wabco Holdings from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $124.00 to $94.00 in a research note on Tuesday, June 28th. Goldman Sachs Group Inc. lowered shares of Wabco Holdings from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $105.00 in a research note on Tuesday, June 28th. Robert W. Baird reiterated a “buy” rating on shares of Wabco Holdings in a research note on Tuesday, June 28th. Zacks Investment Research lowered shares of Wabco Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Finally, Bank of America Corp. lowered shares of Wabco Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, July 7th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $117.92.
Shares of Wabco Holdings (NYSE:WBC) traded down 0.79% during trading on Monday, hitting $109.59. 186,590 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $108.49 and its 200 day moving average is $104.40. Wabco Holdings has a 1-year low of $81.66 and a 1-year high of $115.80. The firm has a market capitalization of $6.11 billion, a PE ratio of 31.53 and a beta of 2.04.
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Wabco Holdings (NYSE:WBC) last released its quarterly earnings results on Wednesday, July 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.03. Wabco Holdings had a net margin of 7.28% and a return on equity of 39.45%. The business had revenue of $732.20 million for the quarter, compared to analyst estimates of $706.60 million. During the same quarter in the previous year, the business earned $1.40 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Wabco Holdings will post $5.73 earnings per share for the current year.
In related news, insider Nick Rens sold 600 shares of the company’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 completion of the sale, the insider now directly 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. Corporate insiders own 0.79% of the company’s stock.
A number of hedge funds have recently modified their holdings of WBC. Aperio Group LLC increased its stake in shares of Wabco Holdings by 36.7% in the first quarter. Aperio Group LLC now owns 15,622 shares of the company’s stock worth $1,670,000 after buying an additional 4,196 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Wabco Holdings during the first quarter worth $374,000. TIAA CREF Investment Management LLC increased its stake in shares of Wabco Holdings by 4.4% in the first quarter. TIAA CREF Investment Management LLC now owns 392,234 shares of the company’s stock worth $41,938,000 after buying an additional 16,375 shares during the period. Prudential Financial Inc. increased 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 worth $815,000 after buying an additional 3,900 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Wabco Holdings by 12.3% in the first quarter. M&T Bank Corp now owns 4,678 shares of the company’s stock worth $500,000 after buying an additional 511 shares during the period. 95.33% of the stock is 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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