KeyCorp Reiterates Buy Rating for Wabco Holdings Inc. (WBC)
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “buy” rating reaffirmed by equities researchers at KeyCorp in a research report issued to clients and investors on Thursday. They currently have a $156.00 price objective on the auto parts company’s stock. KeyCorp’s target price would indicate a potential upside of 9.94% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the company. 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 note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Wabco Holdings in a research note on Thursday, July 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $147.00 price objective on shares of Wabco Holdings in a research note on Wednesday, July 19th. BidaskClub cut Wabco Holdings from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Bank of America Corporation set a $150.00 price objective on Wabco Holdings and gave the company a “buy” rating in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $141.23.
Shares of Wabco Holdings (WBC) traded up 0.17% during trading on Thursday, reaching $141.90. The company’s stock had a trading volume of 476,917 shares. The company has a market capitalization of $7.61 billion, a PE ratio of 23.67 and a beta of 1.64. Wabco Holdings has a 1-year low of $96.10 and a 1-year high of $144.98. The stock has a 50 day moving average of $138.89 and a 200-day moving average of $124.43.
Wabco Holdings (NYSE:WBC) last posted its earnings results on Thursday, July 20th. The auto parts company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.15. Wabco Holdings had a return on equity of 40.21% and a net margin of 11.23%. The company had revenue of $795 million for the quarter, compared to the consensus estimate of $759.33 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Wabco Holdings will post $6.27 earnings per share for the current year.
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In related news, VP Sean Deason sold 789 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $140.50, for a total transaction of $110,854.50. Following the completion of the transaction, the vice president now directly owns 2,277 shares of the company’s stock, valued at approximately $319,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Juergen Gromer sold 7,127 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $138.00, for a total value of $983,526.00. Following the transaction, the director now directly owns 969 shares of the company’s stock, valued at $133,722. The disclosure for this sale can be found here. Insiders have sold a total of 14,054 shares of company stock valued at $1,952,903 over the last three months. 0.79% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBC. Sumitomo Mitsui Asset Management Company LTD grew its stake in Wabco Holdings by 1.4% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,816 shares of the auto parts company’s stock worth $448,000 after purchasing an additional 51 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Wabco Holdings by 2.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 17,583 shares of the auto parts company’s stock worth $2,063,000 after purchasing an additional 461 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Wabco Holdings by 12.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 2,157 shares of the auto parts company’s stock worth $253,000 after purchasing an additional 240 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Wabco Holdings by 1.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 76,195 shares of the auto parts company’s stock worth $8,947,000 after purchasing an additional 962 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Wabco Holdings by 27.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,881 shares of the auto parts company’s stock worth $1,207,000 after purchasing an additional 2,113 shares in the last quarter. 97.54% 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 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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