WABCO (WBC) Price Target Cut to $130.00 by Analysts at Citigroup

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WABCO (NYSE:WBC) had its price objective decreased by Citigroup from $140.00 to $130.00 in a report released on Friday. Citigroup currently has a buy rating on the auto parts company’s stock.

WBC has been the topic of several other reports. Morgan Stanley set a $135.00 price objective on WABCO and gave the company a buy rating in a research note on Thursday, September 13th. Mizuho initiated coverage on WABCO in a research note on Thursday, June 28th. They issued a neutral rating and a $130.00 price objective on the stock. Zacks Investment Research lowered WABCO from a buy rating to a hold rating in a research note on Saturday, July 7th. Bank of America lowered WABCO from a buy rating to an underperform rating and reduced their price objective for the company from $130.00 to $95.00 in a research note on Wednesday. Finally, BMO Capital Markets reissued a hold rating and set a $130.00 price target (down from $135.00) on shares of WABCO in a research note on Friday, September 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $135.50.

NYSE:WBC traded down $0.12 during trading hours on Friday, hitting $105.89. The company’s stock had a trading volume of 971,889 shares, compared to its average volume of 627,116. The firm has a market capitalization of $5.61 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.92 and a beta of 1.82. The company has a quick ratio of 2.07, a current ratio of 2.48 and a debt-to-equity ratio of 0.67. WABCO has a twelve month low of $101.23 and a twelve month high of $162.20.

WABCO (NYSE:WBC) last released its quarterly earnings data on Thursday, October 18th. The auto parts company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.19. The business had revenue of $914.80 million for the quarter, compared to analyst estimates of $932.66 million. WABCO had a return on equity of 32.94% and a net margin of 11.62%. WABCO’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $1.71 earnings per share. On average, analysts anticipate that WABCO will post 7.7 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its stake in shares of WABCO by 11.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,216 shares of the auto parts company’s stock valued at $493,000 after purchasing an additional 433 shares in the last quarter. Daiwa SB Investments Ltd. boosted its stake in shares of WABCO by 9.1% during the third quarter. Daiwa SB Investments Ltd. now owns 5,970 shares of the auto parts company’s stock valued at $704,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank boosted its stake in shares of WABCO by 6.8% during the first quarter. Amalgamated Bank now owns 10,815 shares of the auto parts company’s stock valued at $1,448,000 after purchasing an additional 689 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of WABCO by 28.6% in the second quarter. Wesbanco Bank Inc. now owns 3,600 shares of the auto parts company’s stock worth $421,000 after acquiring an additional 800 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of WABCO by 7.0% in the first quarter. Xact Kapitalforvaltning AB now owns 12,351 shares of the auto parts company’s stock worth $1,653,000 after acquiring an additional 811 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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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