Wabco Holdings Inc. (NYSE:WBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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 equities research analysts have also weighed in on the company. Avondale Partners reaffirmed a “market outperform” rating on shares of Wabco Holdings in a research report on Monday, October 10th. Deutsche Bank AG increased their target price on Wabco Holdings from $113.00 to $114.00 and gave the stock a “hold” rating in a research report on Wednesday. Barclays PLC increased their target price on Wabco Holdings from $103.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Credit Agricole SA began coverage on Wabco Holdings in a research report on Friday, September 30th. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 15th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $117.92.
Shares of Wabco Holdings (NYSE:WBC) opened at 107.28 on Friday. 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 of $108.58 and a 200 day moving average of $104.47. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 30.86 and a beta of 2.04.
Wabco Holdings (NYSE:WBC) last issued its 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 had revenue of $732.20 million for the quarter, compared to analyst estimates of $706.60 million. During the same period last year, the company earned $1.40 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts predict that Wabco Holdings will post $5.73 EPS for the current fiscal year.
In related news, insider Nick Rens sold 600 shares of the 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 completion of the transaction, the insider now owns 9,665 shares in the company, valued at approximately $978,001.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in Wabco Holdings by 36.7% in the first quarter. Aperio Group LLC now owns 15,622 shares of the company’s stock worth $1,670,000 after buying an additional 4,196 shares during the period. Pacad Investment Ltd. bought a new position in Wabco Holdings during the first quarter worth $374,000. Prudential Financial Inc. raised its position in Wabco Holdings by 104.8% in the first quarter. Prudential Financial Inc. now owns 7,620 shares of the company’s stock worth $815,000 after buying an additional 3,900 shares during the period. M&T Bank Corp raised its position in Wabco Holdings by 12.3% in the first quarter. M&T Bank Corp now owns 4,678 shares of the company’s stock worth $500,000 after buying an additional 511 shares during the period. Finally, Credit Agricole S A raised its position in Wabco Holdings by 7.8% in the first quarter. Credit Agricole S A now owns 31,732 shares of the company’s stock worth $3,392,000 after buying an additional 2,283 shares during the period. Institutional investors and hedge funds own 95.33% of the company’s stock.
About Wabco Holdings
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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