Zacks Investment Research Upgrades Wabco Holdings Inc. (WBC) to Buy
Wabco Holdings Inc. (NYSE:WBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $156.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price target points to a potential upside of 8.62% from the stock’s current price.
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. “
Several other research firms have also weighed in on WBC. Royal Bank Of Canada reaffirmed a “buy” rating and set a $137.00 price objective on shares of Wabco Holdings in a report on Thursday, July 20th. Robert W. Baird reaffirmed a “buy” rating and set a $149.00 price objective on shares of Wabco Holdings in a report on Thursday, August 24th. BidaskClub lowered shares of Wabco Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $115.00 price objective on shares of Wabco Holdings in a report on Friday, July 7th. Finally, Deutsche Bank AG raised their price objective on shares of Wabco Holdings from $128.00 to $146.00 and gave the stock a “hold” rating in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $139.36.
Wabco Holdings (WBC) opened at 143.62 on Wednesday. The firm has a market capitalization of $7.70 billion, a P/E ratio of 23.96 and a beta of 1.65. Wabco Holdings has a 52 week low of $96.10 and a 52 week high of $144.98. The firm has a 50-day moving average price of $137.23 and a 200-day moving average price of $123.62.
Wabco Holdings (NYSE:WBC) last posted its quarterly earnings data on Thursday, July 20th. The auto parts company reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.15. The company had revenue of $795 million during the quarter, compared to analyst estimates of $759.33 million. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.43 earnings per share. Equities analysts forecast that Wabco Holdings will post $6.27 EPS for the current year.
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In other Wabco Holdings news, insider Lisa Jane Brown sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $140.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 4,228 shares of the company’s stock, valued at $591,920. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sean Deason sold 789 shares of the firm’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 transaction of $110,854.50. Following the completion of the transaction, 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. Insiders have sold 14,054 shares of company stock worth $1,952,903 over the last three months. 0.79% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. IHT Wealth Management LLC boosted its position 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 worth $256,000 after buying an additional 190 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of Wabco Holdings during the second quarter worth about $179,000. Trexquant Investment LP acquired a new position in shares of Wabco Holdings during the second quarter worth about $204,000. Cortina Asset Management LLC acquired a new position in shares of Wabco Holdings during the first quarter worth about $200,000. Finally, Denver Investment Advisors LLC acquired a new position in shares of Wabco Holdings during the first quarter worth about $205,000. 97.54% of the stock is currently owned by hedge funds and other 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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