Zacks Investment Research upgraded shares of Wabco Holdings Inc. (NYSE:WBC) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $159.00 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 research firms also recently commented on WBC. Royal Bank Of Canada reissued a buy rating and issued a $137.00 price objective on shares of Wabco Holdings in a research note on Thursday, July 20th. Robert W. Baird reissued a buy rating and issued a $149.00 price objective on shares of Wabco Holdings in a research note on Thursday, August 24th. BidaskClub downgraded Wabco Holdings from a buy rating to a hold rating in a research note on Wednesday, June 21st. BMO Capital Markets reissued a hold rating and issued a $115.00 price objective on shares of Wabco Holdings in a research note on Friday, July 7th. Finally, Deutsche Bank AG increased their price objective on Wabco Holdings from $128.00 to $146.00 and gave the company a hold rating in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Wabco Holdings has an average rating of Buy and a consensus price target of $141.08.
Shares of Wabco Holdings (NYSE WBC) opened at 142.27 on Tuesday. The company has a 50-day moving average of $139.09 and a 200 day moving average of $124.92. Wabco Holdings has a 12 month low of $96.10 and a 12 month high of $144.98. The company has a market cap of $7.63 billion, a PE ratio of 23.73 and a beta of 1.64.
Wabco Holdings (NYSE:WBC) last announced its earnings results on Thursday, July 20th. The auto parts company reported $1.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $759.33 million. During the same quarter last year, the firm posted $1.43 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts anticipate that Wabco Holdings will post $6.27 earnings per share for the current year.
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In other Wabco Holdings news, insider Lisa Jane Brown sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $140.00, for a total value of $140,000.00. Following the completion of the sale, the insider now directly owns 4,228 shares of the company’s stock, valued at approximately $591,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sean Deason sold 789 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $140.50, for a total value of $110,854.50. Following the completion of the sale, the vice president now directly owns 2,277 shares of the company’s stock, valued at $319,918.50. The disclosure for this sale can be found here. Insiders sold a total of 14,054 shares of company stock valued at $1,952,903 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Wabco Holdings by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 4,202,800 shares of the auto parts company’s stock worth $535,900,000 after acquiring an additional 98,206 shares during the last quarter. BlackRock Inc. increased its stake 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 acquiring an additional 2,771,342 shares during the last quarter. FMR LLC increased its stake 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 acquiring an additional 1,675,407 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Wabco Holdings by 2.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,590,262 shares of the auto parts company’s stock worth $202,774,000 after acquiring an additional 44,578 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Wabco Holdings by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,489,226 shares of the auto parts company’s stock worth $189,891,000 after acquiring an additional 56,673 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.
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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