Wabco Holdings Inc. (WBC) Stock Rating Upgraded by Zacks Investment Research
Wabco Holdings Inc. (NYSE:WBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $119.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 7.35% 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. “
WBC has been the topic of several other research reports. Deutsche Bank AG initiated coverage on shares of Wabco Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $113.00 price objective on the stock. TheStreet raised shares of Wabco Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, July 20th. Piper Jaffray Cos. reissued a “neutral” rating and set a $96.00 price objective (up previously from $94.00) on shares of Wabco Holdings in a research note on Sunday, July 24th. Goldman Sachs Group Inc. lowered shares of Wabco Holdings from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $105.00 in a research note on Tuesday, June 28th. Finally, Bank of America Corp. lowered shares of Wabco Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, July 7th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $116.42.
Wabco Holdings (NYSE:WBC) opened at 110.85 on Wednesday. The firm has a 50-day moving average of $105.08 and a 200 day moving average of $103.46. Wabco Holdings has a 1-year low of $81.66 and a 1-year high of $115.80. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 31.89 and a beta of 2.10.
Wabco Holdings (NYSE:WBC) last issued its earnings results on Wednesday, July 20th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.03. The company had revenue of $732.20 million for the quarter, compared to analyst estimates of $706.60 million. Wabco Holdings had a net margin of 7.28% and a return on equity of 39.45%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 EPS. Analysts expect that Wabco Holdings will post $5.72 earnings per share for the current fiscal year.
In related news, insider Nick Rens sold 600 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $101.19, for a total transaction of $60,714.00. Following the transaction, the insider now directly owns 9,665 shares in the company, valued at $978,001.35. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.79% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Wabco Holdings by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,881,206 shares of the company’s stock worth $355,401,000 after buying an additional 55,941 shares during the last quarter. Wellington Management Group LLP boosted its position in Wabco Holdings by 1.2% in the first quarter. Wellington Management Group LLP now owns 2,373,449 shares of the company’s stock worth $253,770,000 after buying an additional 28,024 shares during the period. American Century Companies Inc. boosted its position in Wabco Holdings by 4.3% in the second quarter. American Century Companies Inc. now owns 2,352,715 shares of the company’s stock worth $215,438,000 after buying an additional 97,055 shares during the period. Artisan Partners Limited Partnership boosted its position in Wabco Holdings by 4.7% in the second quarter. Artisan Partners Limited Partnership now owns 2,235,732 shares of the company’s stock worth $204,726,000 after buying an additional 101,083 shares during the period. Finally, TimesSquare Capital Management LLC boosted its position in Wabco Holdings by 18.3% in the second quarter. TimesSquare Capital Management LLC now owns 1,285,425 shares of the company’s stock worth $117,706,000 after buying an additional 198,725 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.
About Wabco Holdings
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers. The Company engineers, develops, manufactures and sells systems controlling braking, stability, suspension, transmission automation, as well transmission automation and air management systems for commercial vehicles.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wabco Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wabco Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.