WABCO (WBC) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of WABCO (NYSE:WBC) from a hold rating to a buy rating in a report issued on Saturday morning. Zacks Investment Research currently has $165.00 price objective on the auto parts company’s stock.
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. Stifel Nicolaus reiterated a buy rating and issued a $160.00 target price on shares of WABCO in a report on Thursday, October 12th. Royal Bank of Canada lifted their target price on WABCO to $169.00 and gave the company an outperform rating in a report on Friday, October 20th. ValuEngine lowered WABCO from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Buckingham Research lifted their target price on WABCO from $148.00 to $154.00 and gave the company a neutral rating in a report on Friday, October 20th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $159.73.
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 other WABCO news, Chairman Jacques Esculier sold 172,394 shares of the firm’s 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 sale, the chairman now directly owns 312,079 shares in the company, valued at $47,198,827.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WBC. FMR LLC raised its stake in WABCO by 271.4% in the second quarter. FMR LLC now owns 2,292,816 shares of the auto parts company’s stock valued at $292,356,000 after buying an additional 1,675,407 shares in the last quarter. Harding Loevner LP raised its stake in WABCO by 163.8% in the third quarter. Harding Loevner LP now owns 2,566,784 shares of the auto parts company’s stock valued at $140,660,000 after buying an additional 1,593,796 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in WABCO by 45.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,301,029 shares of the auto parts company’s stock valued at $165,894,000 after buying an additional 405,959 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in WABCO by 137.5% in the third quarter. Pictet Asset Management Ltd. now owns 613,700 shares of the auto parts company’s stock valued at $90,828,000 after buying an additional 355,300 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in WABCO by 1,567.3% in the second quarter. Franklin Resources Inc. now owns 236,590 shares of the auto parts company’s stock valued at $30,168,000 after buying an additional 222,400 shares in the last quarter. Institutional investors own 95.32% of the company’s stock.
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WABCO Company Profile
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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