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

WABCO (NYSE WBC) opened at $161.00 on Friday. WABCO has a 52-week low of $104.08 and a 52-week high of $162.20. The company has a market capitalization of $8,640.00, a price-to-earnings ratio of 29.11, a PEG ratio of 1.40 and a beta of 1.67. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.60 and a current ratio of 3.00.

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

In related news, Chairman Jacques Esculier sold 172,394 shares of WABCO stock in a transaction 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 transaction, the chairman now directly owns 312,079 shares in the company, valued at $47,198,827.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its holdings in 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 period. Prudential Financial Inc. lifted its holdings in WABCO by 3.3% during the 2nd quarter. Prudential Financial Inc. now owns 3,160 shares of the auto parts company’s stock worth $403,000 after buying an additional 100 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in WABCO by 190.0% during the 2nd quarter. IHT Wealth Management LLC now owns 290 shares of the auto parts company’s stock worth $256,000 after buying an additional 190 shares during the last quarter. Epoch Investment Partners Inc. lifted its holdings in WABCO by 0.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 45,232 shares of the auto parts company’s stock worth $6,695,000 after buying an additional 400 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in WABCO by 18.5% during the 3rd quarter. Advisor Group Inc. now owns 2,751 shares of the auto parts company’s stock worth $408,000 after buying an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.

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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.

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