WABCO (WBC) Cut to “Hold” at Zacks Investment Research

WABCO (NYSE:WBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Sunday.

According to Zacks, “WABCO is one of the world’s leading providers of electronic braking, stability, suspension and transmission control systems for heavy duty commercial vehicles. WABCO products are also increasingly used in luxury cars and sport utility vehicles. “

A number of other research analysts have also recently weighed in on WBC. Royal Bank of Canada reaffirmed an “outperform” rating on shares of WABCO in a research report on Monday, September 25th. Berenberg Bank started coverage on shares of WABCO in a research report on Monday, September 25th. They set a “buy” rating and a $173.00 price target on the stock. Goldman Sachs Group reaffirmed a “neutral” rating and set a $147.00 price target (up from $128.00) on shares of WABCO in a research report on Wednesday, October 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price target on shares of WABCO in a research report on Thursday, October 12th. Finally, KeyCorp lifted their price target on shares of WABCO from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. WABCO has an average rating of “Buy” and an average target price of $159.87.

Shares of WABCO (NYSE WBC) opened at $161.00 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 2.60. WABCO has a 12-month low of $104.08 and a 12-month high of $162.20. The stock has a market cap of $8,637.33, a P/E ratio of 25.39, a P/E/G ratio of 1.42 and a beta of 1.67.

WABCO (NYSE:WBC) last released its earnings results on Thursday, October 19th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.18. WABCO had a net margin of 9.75% and a return on equity of 38.93%. The business had revenue of $827.80 million for the quarter, compared to analysts’ expectations of $756.57 million. During the same period last year, the company earned $1.54 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. analysts anticipate that WABCO will post 6.66 EPS for the current fiscal year.

In other news, Chairman Jacques Esculier sold 172,394 shares of WABCO stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $151.24, for a total transaction of $26,072,868.56. Following the sale, the chairman now owns 312,079 shares in the company, valued at $47,198,827.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Pensionfund Sabic purchased a new stake in shares of WABCO during the fourth quarter valued at approximately $1,435,000. Oakbrook Investments LLC purchased a new stake in shares of WABCO during the third quarter valued at approximately $253,000. Toronto Dominion Bank raised its stake in shares of WABCO by 241.4% during the third quarter. Toronto Dominion Bank now owns 2,171 shares of the auto parts company’s stock valued at $321,000 after purchasing an additional 1,535 shares during the period. Shelton Capital Management purchased a new stake in shares of WABCO during the second quarter valued at approximately $8,894,000. Finally, Janus Henderson Group PLC raised its stake in shares of WABCO by 163.9% during the second quarter. Janus Henderson Group PLC now owns 15,602 shares of the auto parts company’s stock valued at $1,989,000 after purchasing an additional 9,689 shares during the period. Institutional investors own 95.33% of the company’s stock.

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About WABCO

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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