Citigroup Inc. Increases Wabco Holdings Inc. (WBC) Price Target to $180.00
Wabco Holdings Inc. (NYSE:WBC) had its price target increased by Citigroup Inc. from $165.00 to $180.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the auto parts company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 16.38% from the company’s previous close.
A number of other brokerages have also commented on WBC. Royal Bank Of Canada boosted their target price on Wabco Holdings to $169.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp boosted their target price on Wabco Holdings from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday. Berenberg Bank began coverage on Wabco Holdings in a research report on Monday, September 25th. They issued a “buy” rating and a $173.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 target price on shares of Wabco Holdings in a research report on Thursday, October 12th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $147.00 target price (up from $128.00) on shares of Wabco Holdings in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wabco Holdings currently has an average rating of “Buy” and an average price target of $158.47.
Wabco Holdings (NYSE WBC) traded down 0.27% on Friday, hitting $154.66. The company had a trading volume of 803,512 shares. Wabco Holdings has a one year low of $96.10 and a one year high of $155.94. The company has a market capitalization of $8.29 billion, a P/E ratio of 25.80 and a beta of 1.65. The stock’s 50-day moving average price is $147.26 and its 200 day moving average price is $131.57.
Wabco Holdings (NYSE:WBC) last issued its earnings results on Thursday, October 19th. The auto parts company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.18. Wabco Holdings had a return on equity of 40.21% and a net margin of 11.23%. The business had revenue of $827.80 million during the quarter, compared to analyst estimates of $756.57 million. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, analysts expect that Wabco Holdings will post $6.47 EPS for the current fiscal year.
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In other news, Director G Peter Daloia sold 3,626 shares of the company’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 value of $506,842.28. Following the completion of the transaction, the director now directly owns 4,316 shares of the company’s stock, valued at $603,290.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sean Deason sold 789 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $140.50, for a total value 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 $319,918.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,054 shares of company stock valued at $1,952,903. 0.79% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its holdings in shares of Wabco Holdings by 12,253.0% in the third quarter. Meeder Asset Management Inc. now owns 8,153 shares of the auto parts company’s stock valued at $1,206,000 after acquiring an additional 8,087 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Wabco Holdings in the second quarter valued at approximately $24,187,000. Advisory Services Network LLC grew its holdings in shares of Wabco Holdings by 0.6% in the second quarter. Advisory Services Network LLC now owns 7,046 shares of the auto parts company’s stock valued at $898,000 after acquiring an additional 40 shares in the last quarter. Castleark Management LLC bought a new position in shares of Wabco Holdings in the second quarter valued at approximately $15,203,000. Finally, Nomura Holdings Inc. bought a new position in shares of Wabco Holdings in the second quarter valued at approximately $384,000. 97.52% of the stock is owned by institutional investors.
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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