Goldman Sachs Group, Inc. (The) Reiterates “Neutral” Rating for Wabco Holdings Inc. (WBC)
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “neutral” rating reaffirmed by stock analysts at Goldman Sachs Group, Inc. (The) in a report released on Wednesday. They currently have a $147.00 target price on the auto parts company’s stock, up from their prior target price of $128.00. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential downside of 2.14% from the company’s current price.
WBC has been the subject of several other research reports. Zacks Investment Research raised shares of Wabco Holdings from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a research report on Wednesday, August 30th. Deutsche Bank AG raised their price objective on shares of Wabco Holdings from $128.00 to $146.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Bank of America Corporation reaffirmed a “buy” rating and set a $150.00 price objective on shares of Wabco Holdings in a research report on Saturday, August 19th. BidaskClub raised shares of Wabco Holdings from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Finally, Piper Jaffray Companies set a $147.00 price objective on shares of Wabco Holdings and gave the stock a “buy” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $145.79.
Wabco Holdings (NYSE:WBC) opened at 150.21 on Wednesday. The stock has a 50 day moving average of $143.63 and a 200 day moving average of $128.92. Wabco Holdings has a 12-month low of $96.10 and a 12-month high of $152.13. The firm has a market cap of $8.06 billion, a PE ratio of 25.06 and a beta of 1.65.
Wabco Holdings (NYSE:WBC) last announced its quarterly earnings data on Thursday, July 20th. The auto parts company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.54 by $0.15. The company had revenue of $795.00 million during the quarter, compared to the consensus estimate of $759.33 million. Wabco Holdings had a net margin of 11.23% and a return on equity of 40.21%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. On average, equities research analysts anticipate that Wabco Holdings will post $6.30 EPS for the current fiscal year.
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In other Wabco Holdings news, VP Sean Deason sold 789 shares of Wabco Holdings stock in a transaction on Monday, July 24th. The shares were sold at an average price of $140.50, for a total transaction of $110,854.50. Following the transaction, the vice president now directly owns 2,277 shares of the company’s stock, valued at approximately $319,918.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Juergen Gromer sold 7,127 shares of Wabco Holdings stock in a transaction on Monday, July 31st. The stock was sold at an average price of $138.00, for a total transaction of $983,526.00. Following the transaction, the director now directly owns 969 shares in the company, valued at $133,722. The disclosure for this sale can be found here. Insiders have sold a total of 14,054 shares of company stock worth $1,952,903 over the last ninety days. Insiders own 0.79% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. IHT Wealth Management LLC boosted its holdings in Wabco Holdings 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 acquiring an additional 190 shares during the last quarter. Pacad Investment Ltd. purchased a new position in Wabco Holdings during the 2nd quarter worth $179,000. Trexquant Investment LP purchased a new position in Wabco Holdings during the 2nd quarter worth $204,000. Cortina Asset Management LLC purchased a new position in Wabco Holdings during the 1st quarter worth $200,000. Finally, Sawtooth Solutions LLC purchased a new position in Wabco Holdings during the 2nd quarter worth $238,000. 97.53% of the stock is currently owned by hedge funds and other institutional investors.
About Wabco Holdings
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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