Zacks Investment Research Lowers WABCO (WBC) to Hold

WABCO (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 Sunday.

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 weighed in on WBC. BMO Capital Markets raised their target price on WABCO from $147.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Bank of America raised their target price on WABCO from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Buckingham Research raised their target price on WABCO from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 20th. Citigroup raised their target price on WABCO from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Royal Bank of Canada raised their target price on WABCO to $169.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $159.87.

WABCO (NYSE:WBC) opened at $161.00 on Friday. The stock has a market capitalization of $8,640.00, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.67. The company has a current ratio of 3.00, a quick ratio of 2.60 and a debt-to-equity ratio of 0.99. WABCO has a 1 year low of $104.08 and a 1 year high of $162.20.

WABCO (NYSE:WBC) last released its earnings results on Thursday, October 19th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.18. The business had revenue of $827.80 million for the quarter, compared to the consensus estimate of $756.57 million. WABCO had a return on equity of 38.93% and a net margin of 9.75%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 earnings per share. equities analysts forecast that WABCO will post 6.66 EPS for the current fiscal year.

In related news, Chairman Jacques Esculier sold 172,394 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $151.24, for a total value of $26,072,868.56. Following the completion of the sale, the chairman now owns 312,079 shares of the company’s stock, valued at $47,198,827.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its holdings in shares of WABCO by 0.6% in 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 during the last quarter. Prudential Financial Inc. increased its holdings in shares of WABCO by 3.3% in the second quarter. Prudential Financial Inc. now owns 3,160 shares of the auto parts company’s stock valued at $403,000 after purchasing an additional 100 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of WABCO by 190.0% in 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 during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of WABCO by 0.9% in the third quarter. Epoch Investment Partners Inc. now owns 45,232 shares of the auto parts company’s stock valued at $6,695,000 after purchasing an additional 400 shares during the last quarter. Finally, Advisor Group Inc. increased its holdings in shares of WABCO by 18.5% in the third quarter. Advisor Group Inc. now owns 2,751 shares of the auto parts company’s stock valued at $408,000 after purchasing an additional 429 shares during the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

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About WABCO

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.

Analyst Recommendations for WABCO (NYSE:WBC)

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