WABCO (WBC) Rating Increased to Buy at Zacks Investment Research
WABCO (NYSE:WBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $150.00 price objective on the auto parts company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.55% from the company’s current price.
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 analysts have also weighed in on the company. Robert W. Baird raised their target price on WABCO from $182.00 to $183.00 and gave the company an “outperform” rating in a report on Tuesday, April 17th. William Blair restated a “buy” rating on shares of WABCO in a report on Wednesday, April 4th. Morgan Stanley assumed coverage on WABCO in a report on Friday, March 2nd. They set an “overweight” rating and a $159.00 target price on the stock. BMO Capital Markets restated a “market perform” rating and set a $150.00 target price (down from $160.00) on shares of WABCO in a report on Friday, February 23rd. Finally, Buckingham Research restated a “neutral” rating and set a $152.00 target price (down from $156.00) on shares of WABCO in a report on Tuesday, February 20th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $162.21.
WABCO (NYSE:WBC) last announced its quarterly earnings data on Thursday, April 19th. The auto parts company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.16. WABCO had a return on equity of 35.77% and a net margin of 11.97%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $950.91 million. During the same period last year, the company earned $1.47 earnings per share. WABCO’s quarterly revenue was up 35.0% compared to the same quarter last year. analysts anticipate that WABCO will post 7.69 earnings per share for the current year.
In other news, insider Nicolas Bardot sold 834 shares of WABCO stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $136.88, for a total value of $114,157.92. Following the transaction, the insider now directly owns 4,243 shares in the company, valued at $580,781.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in shares of WABCO in the fourth quarter worth about $129,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of WABCO by 114.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 935 shares of the auto parts company’s stock worth $134,000 after purchasing an additional 500 shares during the period. American International Group Inc. bought a new position in shares of WABCO in the fourth quarter worth about $172,000. IFM Investors Pty Ltd bought a new position in shares of WABCO in the fourth quarter worth about $213,000. Finally, MML Investors Services LLC bought a new position in shares of WABCO in the fourth quarter worth about $236,000. Institutional investors and hedge funds own 97.29% of the company’s stock.
WABCO Company Profile
WABCO Holdings Inc, together with its subsidiaries, supplies electronic, mechanical, electro-mechanical, and aerodynamic products worldwide. The company engineers, develops, manufactures, and sells braking, stability, suspension, transmission automation, and air management systems primarily for commercial vehicles.
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