WABCO (WBC) Rating Increased 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 research report report published on Saturday. The brokerage currently has $167.00 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. “

WBC has been the topic of several other reports. Piper Jaffray Companies reissued a buy rating and set a $167.00 target price on shares of WABCO in a research note on Sunday, October 22nd. ValuEngine lowered shares of WABCO from a buy rating to a hold rating in a research note on Friday, December 1st. Goldman Sachs Group reissued a neutral rating and set a $147.00 target price (up from $128.00) on shares of WABCO in a research note on Wednesday, October 4th. Berenberg Bank started coverage on shares of WABCO in a research note on Monday, September 25th. They set a buy rating and a $173.00 target price on the stock. Finally, Citigroup increased their target price on shares of WABCO from $165.00 to $180.00 and gave the stock a buy rating in a research note on Friday, October 20th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $159.87.

WABCO (NYSE WBC) opened at $155.02 on Friday. The stock has a market cap of $8,320.00, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.37 and a beta of 1.67. WABCO has a 12 month low of $103.40 and a 12 month high of $156.08. 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 issued its earnings results on Thursday, October 19th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.18. The business had revenue of $827.80 million for the quarter, compared to analyst estimates of $756.57 million. WABCO had a net margin of 9.75% and a return on equity of 38.93%. WABCO’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. 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 company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $151.24, for a total transaction of $26,072,868.56. Following the transaction, the chairman now owns 312,079 shares in the company, valued at $47,198,827.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pensionfund Sabic acquired a new position in WABCO during the fourth quarter worth $1,435,000. Oakbrook Investments LLC purchased a new stake in shares of WABCO in the third quarter valued at about $253,000. Toronto Dominion Bank raised its holdings in shares of WABCO by 241.4% in the third quarter. Toronto Dominion Bank now owns 2,171 shares of the auto parts company’s stock valued at $321,000 after purchasing an additional 1,535 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of WABCO by 163.9% in the second quarter. Janus Henderson Group PLC now owns 15,602 shares of the auto parts company’s stock valued at $1,989,000 after purchasing an additional 9,689 shares during the last quarter. Finally, Shelton Capital Management purchased a new stake in shares of WABCO in the second quarter valued at about $8,894,000. 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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