Wabco Holdings’ (WBC) Buy Rating Reaffirmed at Bank of America Corporation
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “buy” rating reissued by investment analysts at Bank of America Corporation in a report released on Saturday. They presently have a $150.00 price objective on the auto parts company’s stock. Bank of America Corporation’s price target points to a potential upside of 9.74% from the stock’s current price.
Several other equities research analysts have also recently commented on WBC. BidaskClub cut shares of Wabco Holdings from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $150.00 price objective (up from $130.00) on shares of Wabco Holdings in a research report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $127.00 price objective on shares of Wabco Holdings in a research report on Friday, July 7th. Zacks Investment Research cut shares of Wabco Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $147.00 price objective on shares of Wabco Holdings in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $138.50.
Wabco Holdings (NYSE:WBC) opened at 136.69 on Friday. The stock has a 50 day moving average of $134.70 and a 200-day moving average of $121.99. The firm has a market capitalization of $7.33 billion, a P/E ratio of 22.80 and a beta of 1.65. Wabco Holdings has a 1-year low of $96.10 and a 1-year high of $144.98.
Wabco Holdings (NYSE:WBC) last posted its quarterly earnings data on Thursday, July 20th. The auto parts company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.54 by $0.15. The business had revenue of $795 million for the quarter, compared to analysts’ expectations of $759.33 million. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. On average, equities research analysts anticipate that Wabco Holdings will post $6.27 earnings per share for the current year.
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In other Wabco Holdings news, Director G Peter Daloia sold 3,626 shares of Wabco Holdings stock in a transaction on Monday, July 24th. The shares were sold at an average price of $139.78, for a total value of $506,842.28. Following the sale, the director now directly owns 4,316 shares in the company, valued at approximately $603,290.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sean Deason sold 789 shares of Wabco Holdings stock in a transaction on Monday, July 24th. The shares were sold at an average price of $140.50, for a total transaction of $110,854.50. Following the completion of the sale, the vice president now owns 2,277 shares in the company, valued at $319,918.50. The disclosure for this sale can be found here. Insiders sold a total of 14,054 shares of company stock worth $1,952,903 over the last quarter. Company insiders own 0.79% of the company’s stock.
Large investors have recently modified their holdings of the stock. Fox Run Management L.L.C. raised its stake in shares of Wabco Holdings by 189.5% in the second quarter. Fox Run Management L.L.C. now owns 5,500 shares of the auto parts company’s stock valued at $701,000 after buying an additional 3,600 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Wabco Holdings by 21.2% in the first quarter. Envestnet Asset Management Inc. now owns 18,083 shares of the auto parts company’s stock valued at $2,125,000 after buying an additional 3,167 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Wabco Holdings by 0.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 444,982 shares of the auto parts company’s stock valued at $52,249,000 after buying an additional 2,013 shares in the last quarter. Denver Investment Advisors LLC purchased a new position in Wabco Holdings during the first quarter valued at $205,000. Finally, Vanguard Group Inc. raised its position in Wabco Holdings by 2.5% in the first quarter. Vanguard Group Inc. now owns 4,104,594 shares of the auto parts company’s stock valued at $481,960,000 after buying an additional 99,639 shares in the last quarter. Hedge funds and other institutional investors own 96.35% 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 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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