Traders Buy Large Volume of WABCO Put Options (WBC)
WABCO Holdings Inc. (NYSE:WBC) saw unusually large options trading on Thursday. Stock traders purchased 4,046 put options on the stock. This represents an increase of approximately 3,061% compared to the average daily volume of 128 put options.
Several brokerages recently weighed in on WBC. Zacks Investment Research upgraded WABCO from a “hold” rating to a “buy” rating and set a $161.00 target price for the company in a research note on Tuesday, September 5th. KeyCorp restated a “buy” rating and set a $161.00 target price (up previously from $156.00) on shares of WABCO in a research note on Tuesday, September 19th. Buckingham Research increased their target price on WABCO from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. Stifel Nicolaus set a $150.00 target price on WABCO and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, Bank of America increased their target price on WABCO from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. WABCO has a consensus rating of “Buy” and a consensus target price of $159.80.
Shares of WABCO (NYSE:WBC) opened at $140.40 on Friday. The company has a quick ratio of 2.60, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. WABCO has a 52-week low of $102.39 and a 52-week high of $156.08. The company has a market capitalization of $7,559.02, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.41 and a beta of 1.67.
In other news, Chairman Jacques Esculier sold 172,394 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $151.24, for a total transaction of $26,072,868.56. Following the completion of the sale, the chairman now owns 312,079 shares in the company, valued at approximately $47,198,827.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. Pacad Investment Ltd. acquired a new position in shares of WABCO in the 2nd quarter worth approximately $179,000. Zions Bancorporation acquired a new position in shares of WABCO in the 3rd quarter worth approximately $179,000. Brown Advisory Inc. acquired a new position in shares of WABCO in the 3rd quarter worth approximately $202,000. Trexquant Investment LP acquired a new position in shares of WABCO in the 2nd quarter worth approximately $204,000. Finally, Cadence Capital Management LLC acquired a new position in shares of WABCO in the 3rd quarter worth approximately $207,000. Institutional investors own 95.32% of the company’s stock.
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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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