Wabco Holdings Inc. (WBC) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Wabco Holdings Inc. (NYSE:WBC) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $119.00 price objective on the 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 equities research analysts also recently weighed in on WBC. Piper Jaffray Cos. reaffirmed a neutral rating and set a $96.00 price target (up from $94.00) on shares of Wabco Holdings in a report on Sunday, July 24th. Robert W. Baird reaffirmed a buy rating on shares of Wabco Holdings in a report on Tuesday, June 28th. Goldman Sachs Group Inc. increased their price target on Wabco Holdings from $105.00 to $106.00 and gave the stock a neutral rating in a report on Thursday, July 21st. TheStreet raised Wabco Holdings from a hold rating to a buy rating in a report on Wednesday, July 20th. Finally, Deutsche Bank AG initiated coverage on Wabco Holdings in a report on Tuesday, September 6th. They issued a hold rating and a $113.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $116.42.

Shares of Wabco Holdings (NYSE:WBC) opened at 108.76 on Wednesday. The stock’s 50 day moving average is $105.36 and its 200-day moving average is $103.53. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 31.29 and a beta of 2.10. Wabco Holdings has a 12-month low of $81.66 and a 12-month high of $115.80.

Wabco Holdings (NYSE:WBC) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.03. Wabco Holdings had a return on equity of 39.45% and a net margin of 7.28%. The firm earned $732.20 million during the quarter, compared to the consensus estimate of $706.60 million. During the same period last year, the company earned $1.40 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts anticipate that Wabco Holdings will post $5.72 EPS for the current fiscal year.

In related news, insider Nick Rens sold 600 shares of Wabco Holdings stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $101.19, for a total transaction of $60,714.00. Following the completion of 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 SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Point72 Asia Hong Kong Ltd boosted its stake in Wabco Holdings by 1,000.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock valued at $101,000 after buying an additional 1,000 shares during the period. Advisor Group Inc. acquired a new stake in Wabco Holdings during the second quarter valued at approximately $102,000. Nordea Investment Management AB boosted its stake in Wabco Holdings by 6.7% in the second quarter. Nordea Investment Management AB now owns 1,539 shares of the company’s stock valued at $141,000 after buying an additional 97 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Wabco Holdings by 92.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,602 shares of the company’s stock valued at $147,000 after buying an additional 769 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in Wabco Holdings by 8.5% in the second quarter. LS Investment Advisors LLC now owns 2,015 shares of the company’s stock valued at $185,000 after buying an additional 158 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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