Wabco Holdings Inc. (WBC) Coverage Initiated by Analysts at Berenberg Bank
Analysts at Berenberg Bank started coverage on shares of Wabco Holdings Inc. (NYSE:WBC) in a report released on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $173.00 price target on the auto parts company’s stock. Berenberg Bank’s target price would indicate a potential upside of 15.23% from the stock’s previous close.
WBC has been the subject of several other reports. Zacks Investment Research downgraded 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 target price for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $127.00 target price on shares of Wabco Holdings in a research report on Friday, July 7th. Stifel Nicolaus set a $150.00 target price on Wabco Holdings and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $147.00 target price on shares of Wabco Holdings in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $143.71.
Shares of Wabco Holdings (WBC) traded up 0.55% during mid-day trading on Monday, reaching $150.97. The company had a trading volume of 308,606 shares. The firm’s 50-day moving average price is $139.95 and its 200 day moving average price is $126.19. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 25.18 and a beta of 1.64. Wabco Holdings has a 52-week low of $96.10 and a 52-week high of $152.61.
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 consensus estimate of $1.54 by $0.15. The firm had revenue of $795.00 million during the quarter, compared to the consensus estimate of $759.33 million. Wabco Holdings had a return on equity of 40.21% and a net margin of 11.23%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. Equities analysts expect that Wabco Holdings will post $6.29 EPS for the current year.
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In related news, Director G Peter Daloia sold 3,626 shares of the firm’s stock in a transaction that occurred on 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 owns 4,316 shares of the company’s stock, valued at $603,290.48. 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 firm’s stock in a transaction that occurred 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 sale, the director now directly owns 969 shares of the company’s stock, valued at approximately $133,722. The disclosure for this sale can be found here. Insiders have sold 14,054 shares of company stock valued at $1,952,903 in the last ninety days. 0.79% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. grew its stake in Wabco Holdings by 189.5% during the second quarter. Fox Run Management L.L.C. now owns 5,500 shares of the auto parts company’s stock worth $701,000 after purchasing an additional 3,600 shares during the period. Cipher Capital LP acquired a new stake in Wabco Holdings during the second quarter worth approximately $535,000. Envestnet Asset Management Inc. grew its stake in Wabco Holdings by 21.2% during the first quarter. Envestnet Asset Management Inc. now owns 18,083 shares of the auto parts company’s stock worth $2,125,000 after purchasing an additional 3,167 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Wabco Holdings by 20.5% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,093 shares of the auto parts company’s stock worth $2,052,000 after purchasing an additional 2,735 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Wabco Holdings by 4.6% during the second quarter. Alliancebernstein L.P. now owns 461,337 shares of the auto parts company’s stock worth $58,825,000 after purchasing an additional 20,348 shares during the period. 97.53% of the stock is owned by institutional investors and hedge funds.
Wabco Holdings Company Profile
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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