WABCO (WBC) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of WABCO (NYSE:WBC) from a hold rating to a buy rating in a research note published on Saturday morning. The brokerage currently has $167.00 price target on the auto parts company’s stock.
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 brokerages have also weighed in on WBC. BMO Capital Markets increased their price objective on shares of WABCO from $147.00 to $160.00 and gave the company an outperform rating in a research report on Friday, October 20th. Stifel Nicolaus reissued a buy rating and issued a $160.00 price objective on shares of WABCO in a research report on Thursday, October 12th. Royal Bank of Canada increased their price objective on shares of WABCO to $169.00 and gave the company an outperform rating in a research report on Friday, October 20th. ValuEngine lowered shares of WABCO from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Buckingham Research increased their price objective on shares of WABCO from $148.00 to $154.00 and gave the company a neutral rating in a research report on Friday, October 20th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $159.87.
WABCO (NYSE:WBC) last issued its quarterly earnings data on Thursday, October 19th. The auto parts company reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.18. The company had revenue of $827.80 million for the quarter, compared to analyst estimates of $756.57 million. WABCO had a net margin of 9.75% and a return on equity of 38.93%. The company’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. sell-side analysts expect that WABCO will post 6.66 EPS for the current year.
In related news, Chairman Jacques Esculier sold 172,394 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $151.24, for a total value of $26,072,868.56. Following the transaction, the chairman now directly owns 312,079 shares in the company, valued at $47,198,827.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WBC. Oakbrook Investments LLC acquired a new stake in WABCO during the third quarter worth about $253,000. Pensionfund Sabic acquired a new stake in WABCO during the fourth quarter worth about $1,435,000. Toronto Dominion Bank grew its stake in WABCO by 241.4% during the third quarter. Toronto Dominion Bank now owns 2,171 shares of the auto parts company’s stock worth $321,000 after buying an additional 1,535 shares in the last quarter. Shelton Capital Management acquired a new stake in WABCO during the second quarter worth about $8,894,000. Finally, Janus Henderson Group PLC grew its stake in WABCO by 163.9% during the second quarter. Janus Henderson Group PLC now owns 15,602 shares of the auto parts company’s stock worth $1,989,000 after buying an additional 9,689 shares in the last quarter. Institutional investors and hedge funds own 95.32% of the company’s stock.
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WABCO 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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