Royal Bank Of Canada Reaffirms Buy Rating for Wabco Holdings Inc. (WBC)
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “buy” rating reissued by research analysts at Royal Bank Of Canada in a research report issued on Thursday. They presently have a $137.00 target price on the auto parts company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 0.58% from the stock’s previous close.
Several other research firms also recently issued reports on WBC. BidaskClub downgraded shares of Wabco Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $115.00 price target on shares of Wabco Holdings in a research note on Friday, July 7th. TheStreet raised shares of Wabco Holdings from a “c+” rating to a “b-” rating in a research note on Thursday, April 6th. Zacks Investment Research downgraded shares of Wabco Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Deutsche Bank AG raised their price target on shares of Wabco Holdings from $126.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Wabco Holdings has an average rating of “Buy” and an average price target of $123.08.
Shares of Wabco Holdings (WBC) traded up 3.98% during mid-day trading on Thursday, hitting $136.21. 1,501,127 shares of the company’s stock traded hands. The firm has a 50-day moving average of $125.54 and a 200 day moving average of $117.28. Wabco Holdings has a 52 week low of $96.09 and a 52 week high of $141.86. The company has a market cap of $7.37 billion, a PE ratio of 23.84 and a beta of 1.64.
Wabco Holdings (NYSE:WBC) last issued its earnings results on Thursday, July 20th. The auto parts company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.15. Wabco Holdings had a net margin of 11.05% and a return on equity of 40.37%. The firm had revenue of $795 million for the quarter, compared to analyst estimates of $759.33 million. During the same quarter last year, the business posted $1.43 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Wabco Holdings will post $5.99 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in WBC. Cortina Asset Management LLC acquired a new position in shares of Wabco Holdings during the first quarter worth about $200,000. Denver Investment Advisors LLC bought a new position in shares of Wabco Holdings during the first quarter valued at about $205,000. RGT Capital Management Ltd. bought a new position in shares of Wabco Holdings during the first quarter valued at about $206,000. Bancorpsouth Inc. bought a new position in shares of Wabco Holdings during the first quarter valued at about $219,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Wabco Holdings during the first quarter valued at about $222,000. 98.52% of the stock is owned by institutional investors and hedge funds.
About Wabco Holdings
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers of commercial trucks, buses and trailers, as well as passenger cars. The Company engineers, develops, manufactures and sells braking, stability, suspension and transmission automation and air management systems primarily for commercial vehicles.
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