Wabco Holdings Inc. (WBC) Cut to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Wabco Holdings Inc. (NYSE:WBC) from a buy rating to a hold rating in a research report sent to investors on Saturday.
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. “
Other analysts have also issued research reports about the company. Stifel Nicolaus reiterated a buy rating and set a $150.00 price objective (up previously from $130.00) on shares of Wabco Holdings in a report on Friday, July 21st. Royal Bank Of Canada reiterated a buy rating and set a $137.00 price objective on shares of Wabco Holdings in a report on Thursday, July 20th. Piper Jaffray Companies reiterated a buy rating and set a $147.00 price objective on shares of Wabco Holdings in a report on Wednesday, July 19th. BidaskClub lowered Wabco Holdings from a strong-buy rating to a buy rating in a report on Thursday, June 15th. Finally, Bank of America Corporation set a $150.00 price objective on Wabco Holdings and gave the company a buy rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $139.45.
Wabco Holdings (NYSE:WBC) opened at 138.98 on Friday. The stock has a market cap of $7.45 billion, a PE ratio of 23.18 and a beta of 1.65. Wabco Holdings has a 12 month low of $96.10 and a 12 month high of $144.98. The company’s 50 day moving average price is $135.89 and its 200 day moving average price is $122.90.
Wabco Holdings (NYSE:WBC) last issued its quarterly earnings data 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. Wabco Holdings had a return on equity of 40.21% and a net margin of 11.23%. The firm had revenue of $795 million during the quarter, compared to analyst estimates of $759.33 million. During the same quarter in the prior year, the business posted $1.43 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts forecast that Wabco Holdings will post $6.27 EPS for the current fiscal year.
In other Wabco Holdings news, Director G Peter Daloia sold 3,626 shares of the 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 sale, the director now directly owns 4,316 shares of the company’s stock, valued at approximately $603,290.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean Deason sold 789 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $140.50, for a total value of $110,854.50. Following the sale, the vice president now directly owns 2,277 shares in the company, valued at $319,918.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,054 shares of company stock worth $1,952,903. 0.79% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. IHT Wealth Management LLC increased its stake in shares of Wabco Holdings by 190.0% in the second quarter. IHT Wealth Management LLC now owns 290 shares of the auto parts company’s stock valued at $256,000 after buying an additional 190 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of Wabco Holdings during the second quarter valued at $179,000. Trexquant Investment LP bought a new stake in shares of Wabco Holdings during the second quarter valued at $204,000. Cortina Asset Management LLC bought a new stake in shares of Wabco Holdings during the first quarter valued at $200,000. Finally, Denver Investment Advisors LLC bought a new stake in shares of Wabco Holdings during the first quarter valued at $205,000. 97.54% of the stock is currently 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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