Wabco Holdings Inc. (NYSE:WBC) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,362,677 shares, a growth of 59.4% from the August 15th total of 855,045 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average daily volume of 360,288 shares, the days-to-cover ratio is currently 3.8 days.
Wabco Holdings (NYSE:WBC) opened at 108.76 on Friday. The firm has a market capitalization of $6.07 billion, a PE ratio of 31.29 and a beta of 2.10. Wabco Holdings has a 52-week low of $81.66 and a 52-week high of $115.80. The stock’s 50 day moving average price is $105.36 and its 200 day moving average price is $103.53.
Wabco Holdings (NYSE:WBC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $732.20 million for the quarter, compared to analysts’ expectations of $706.60 million. During the same quarter last year, the firm earned $1.40 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Wabco Holdings will post $5.72 earnings per share for the current year.
In other Wabco Holdings news, insider Nick Rens sold 600 shares of Wabco Holdings stock in a transaction on Monday, August 8th. The stock was 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 $978,001.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Wabco Holdings during the fourth quarter valued at $85,507,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Wabco Holdings by 6.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,904 shares of the company’s stock valued at $1,807,000 after buying an additional 980 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Wabco Holdings during the first quarter valued at $535,000. Douglas Lane & Associates LLC purchased a new position in shares of Wabco Holdings during the first quarter valued at $289,000. Finally, Granite Investment Partners LLC raised its position in shares of Wabco Holdings by 52.1% in the first quarter. Granite Investment Partners LLC now owns 45,960 shares of the company’s stock valued at $4,914,000 after buying an additional 15,750 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.
A number of equities research analysts have commented on WBC shares. Deutsche Bank AG started coverage on Wabco Holdings in a research report on Tuesday, September 6th. They issued a “hold” rating and a $113.00 target price on the stock. TheStreet upgraded Wabco Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 20th. Zacks Investment Research upgraded Wabco Holdings from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a report on Wednesday. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $96.00 price objective (up previously from $94.00) on shares of Wabco Holdings in a report on Sunday, July 24th. Finally, Goldman Sachs Group Inc. downgraded Wabco Holdings from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $105.00 in a report on Tuesday, June 28th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Wabco Holdings has an average rating of “Buy” and a consensus target price of $116.42.
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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