Wabco Holdings Inc. (WBC) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Wabco Holdings Inc. (NYSE:WBC) from a buy rating to a hold rating in a research note released on Friday morning.
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 equities research analysts have also commented on the stock. Buckingham Research began coverage on shares of Wabco Holdings in a report on Tuesday. They set a neutral rating and a $142.00 price target for the company. BidaskClub upgraded shares of Wabco Holdings from a buy rating to a strong-buy rating in a report on Saturday, August 26th. Robert W. Baird reiterated a buy rating and set a $149.00 price target on shares of Wabco Holdings in a report on Thursday, August 24th. Piper Jaffray Companies set a $147.00 price target on shares of Wabco Holdings and gave the company a buy rating in a report on Thursday, August 24th. Finally, Stifel Nicolaus set a $150.00 price objective on shares of Wabco Holdings and gave the stock a buy rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Wabco Holdings has an average rating of Buy and a consensus target price of $141.23.
Wabco Holdings (NYSE:WBC) traded up 0.17% during trading on Friday, hitting $141.90. 476,917 shares of the stock traded hands. The stock has a market cap of $7.61 billion, a PE ratio of 23.67 and a beta of 1.64. The company has a 50-day moving average price of $139.05 and a 200-day moving average price of $124.56. Wabco Holdings has a 12 month low of $96.10 and a 12 month high of $144.98.
Wabco Holdings (NYSE:WBC) last posted its quarterly earnings results on Thursday, July 20th. The auto parts company reported $1.69 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.15. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. The company had revenue of $795 million during the quarter, compared to analyst estimates of $759.33 million. During the same period in the prior year, the business posted $1.43 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that Wabco Holdings will post $6.27 EPS for the current year.
In other news, Director Juergen Gromer sold 7,127 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $138.00, for a total value of $983,526.00. Following the sale, the director now directly owns 969 shares of the company’s stock, valued at approximately $133,722. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Peter Daloia sold 3,626 shares of the company’s 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 completion of the sale, the director now directly owns 4,316 shares in the company, valued at $603,290.48. The disclosure for this sale can be found here. Insiders sold a total of 14,054 shares of company stock worth $1,952,903 over the last ninety days. Insiders own 0.79% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WBC. BlackRock Inc. grew its position in shares of Wabco Holdings by 4,696.5% in the 1st quarter. BlackRock Inc. now owns 2,830,351 shares of the auto parts company’s stock worth $332,341,000 after buying an additional 2,771,342 shares during the period. FMR LLC grew its position in shares of Wabco Holdings by 271.4% in the 2nd quarter. FMR LLC now owns 2,292,816 shares of the auto parts company’s stock worth $292,356,000 after buying an additional 1,675,407 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Wabco Holdings by 303.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 895,070 shares of the auto parts company’s stock worth $105,099,000 after buying an additional 673,287 shares during the period. Congress Asset Management Co. MA purchased a new stake in shares of Wabco Holdings in the 2nd quarter worth about $72,575,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Wabco Holdings in the 1st quarter worth about $47,339,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
About Wabco Holdings
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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