Wabco Holdings’ (WBC) Buy Rating Reaffirmed at KeyCorp
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “buy” rating reiterated by equities researchers at KeyCorp in a research note issued on Tuesday. They currently have a $161.00 price target on the auto parts company’s stock, up from their prior price target of $156.00. KeyCorp’s price objective points to a potential upside of 9.62% from the company’s previous close.
WBC has been the subject of a number of other research reports. Zacks Investment Research lowered Wabco Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Buckingham Research assumed coverage on Wabco Holdings in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $142.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $127.00 price target on shares of Wabco Holdings in a research report on Friday, July 7th. Stifel Nicolaus set a $150.00 price target on Wabco Holdings and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $147.00 price objective on shares of Wabco Holdings in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $141.46.
Wabco Holdings (NYSE WBC) traded up 2.73% on Tuesday, hitting $146.87. 663,991 shares of the stock were exchanged. Wabco Holdings has a 52 week low of $96.10 and a 52 week high of $146.91. The company has a market cap of $7.88 billion, a PE ratio of 24.50 and a beta of 1.64. The company’s 50-day moving average is $139.95 and its 200-day moving average is $126.19.
Wabco Holdings (NYSE:WBC) last released its quarterly earnings results on Thursday, July 20th. The auto parts company reported $1.69 earnings per share 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 business had revenue of $795.00 million during the quarter, compared to analyst estimates of $759.33 million. During the same quarter last year, the company posted $1.43 EPS. Wabco Holdings’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that Wabco Holdings will post $6.27 earnings per share for the current year.
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In other news, Director G Peter Daloia sold 3,626 shares of Wabco Holdings stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $139.78, for a total transaction of $506,842.28. Following the completion of 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 filing with the SEC, which can be accessed through this link. Also, Director Juergen Gromer sold 7,127 shares of Wabco Holdings stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $138.00, for a total value of $983,526.00. Following the sale, the director now owns 969 shares of the company’s stock, valued at $133,722. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,054 shares of company stock valued at $1,952,903. 0.79% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in WBC. Pacad Investment Ltd. acquired a new stake in shares of Wabco Holdings during the 2nd quarter valued at about $179,000. Cortina Asset Management LLC acquired a new stake in shares of Wabco Holdings during the 1st quarter valued at about $200,000. Trexquant Investment LP acquired a new stake in shares of Wabco Holdings during the 2nd quarter valued at about $204,000. RGT Capital Management Ltd. acquired a new stake in shares of Wabco Holdings during the 1st quarter valued at about $206,000. Finally, Bancorpsouth Inc. acquired a new stake in shares of Wabco Holdings during the 1st quarter valued at about $219,000. Institutional investors and hedge funds own 97.53% 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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