Zacks Investment Research cut shares of Wabco Holdings Inc. (NYSE:WBC) from a buy rating to a hold rating in a report issued on Friday.
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. “
Other equities analysts also recently issued research reports about the company. Buckingham Research began coverage on Wabco Holdings in a research report on Tuesday, September 5th. They set a neutral rating and a $142.00 price target for the company. Bank of America Corporation reaffirmed a buy rating and set a $150.00 price target on shares of Wabco Holdings in a research report on Saturday, August 19th. BidaskClub raised Wabco Holdings from a buy rating to a strong-buy rating in a research report on Saturday, August 26th. Robert W. Baird reaffirmed a buy rating and set a $149.00 price target on shares of Wabco Holdings in a research report on Thursday, August 24th. Finally, Stifel Nicolaus set a $150.00 price target on Wabco Holdings and gave the stock a buy rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $141.23.
Shares of Wabco Holdings (NYSE WBC) opened at 141.90 on Friday. The firm has a market capitalization of $7.61 billion, a PE ratio of 23.67 and a beta of 1.64. The company’s 50 day moving average is $139.05 and its 200 day moving average is $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 earnings results on Thursday, July 20th. The auto parts company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.15. Wabco Holdings had a return on equity of 40.21% and a net margin of 11.23%. The business had revenue of $795 million during the quarter, compared to analysts’ expectations of $759.33 million. During the same period in the prior year, the business earned $1.43 EPS. Wabco Holdings’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts forecast that Wabco Holdings will post $6.27 earnings per share for the current year.
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In related news, Director Juergen Gromer sold 7,127 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was 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 $133,722. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Peter Daloia sold 3,626 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $139.78, for a total value 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 14,054 shares of company stock worth $1,952,903 in the last 90 days. 0.79% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new stake in shares of Wabco Holdings during the second quarter valued at about $24,187,000. Advisory Services Network LLC boosted its stake in shares of Wabco Holdings by 0.6% during the second quarter. Advisory Services Network LLC now owns 7,046 shares of the auto parts company’s stock valued at $898,000 after purchasing an additional 40 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Wabco Holdings during the second quarter valued at about $15,203,000. Nomura Holdings Inc. acquired a new stake in shares of Wabco Holdings during the second quarter valued at about $384,000. Finally, IHT Wealth Management LLC boosted its stake in shares of Wabco Holdings by 190.0% during the second quarter. IHT Wealth Management LLC now owns 290 shares of the auto parts company’s stock valued at $256,000 after purchasing an additional 190 shares in the last quarter. 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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