Wabco Holdings Inc. (WBC) Downgraded by Zacks Investment Research
Wabco Holdings Inc. (NYSE:WBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued 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. “
Several other analysts have also recently weighed in on the stock. Bank of America Corp. cut shares of Wabco Holdings from a “buy” rating to a “neutral” rating in a research note on Thursday, July 7th. Piper Jaffray Cos. cut shares of Wabco Holdings from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $124.00 to $94.00 in a research note on Tuesday, June 28th. Goldman Sachs Group Inc. cut 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. JPMorgan Chase & Co. cut their price target on shares of Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 15th. Finally, Credit Agricole SA started coverage on shares of Wabco Holdings in a research report on Friday, September 30th. They set an “outperform” rating and a $125.00 price target on the stock. Nine 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 currently has an average rating of “Hold” and a consensus target price of $117.92.
Shares of Wabco Holdings (NYSE:WBC) opened at 107.28 on Friday. The firm has a market cap of $5.98 billion, a P/E ratio of 30.86 and a beta of 2.04. Wabco Holdings has a 52-week low of $81.65 and a 52-week high of $115.80. The company has a 50 day moving average price of $108.58 and a 200-day moving average price of $104.47.
Wabco Holdings (NYSE:WBC) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.03. Wabco Holdings had a net margin of 7.28% and a return on equity of 39.45%. The company had revenue of $732.20 million for the quarter, compared to analysts’ expectations of $706.60 million. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Wabco Holdings’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts expect that Wabco Holdings will post $5.73 earnings per share for the current fiscal year.
In related news, insider Nick Rens sold 600 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $101.19, for a total value of $60,714.00. Following the sale, the insider now owns 9,665 shares in the company, valued at approximately $978,001.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of WBC. Eagle Asset Management Inc. raised its stake in Wabco Holdings by 7.4% in the third quarter. Eagle Asset Management Inc. now owns 665,368 shares of the company’s stock worth $75,539,000 after buying an additional 45,721 shares in the last quarter. Pensionfund Sabic purchased a new stake in Wabco Holdings during the third quarter valued at approximately $1,703,000. Pensionfund DSM Netherlands purchased a new stake in Wabco Holdings during the third quarter valued at approximately $3,633,000. Creative Planning raised its stake in Wabco Holdings by 1,228.0% in the third quarter. Creative Planning now owns 1,421 shares of the company’s stock valued at $161,000 after buying an additional 1,314 shares during the period. Finally, British Columbia Investment Management Corp raised its stake in Wabco Holdings by 37.1% in the third quarter. British Columbia Investment Management Corp now owns 88,487 shares of the company’s stock valued at $10,046,000 after buying an additional 23,948 shares during the period. Institutional investors own 95.33% of the company’s stock.
Wabco Holdings Company Profile
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.
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