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 research note released on Thursday, December 28th. The firm currently has $161.00 target price 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. “

Other research analysts have also recently issued research reports about the stock. Bank of America lifted their price target on shares of WABCO from $160.00 to $170.00 and gave the stock a buy rating in a research note on Friday, October 20th. Berenberg Bank started coverage on shares of WABCO in a report on Monday, September 25th. They issued a buy rating and a $173.00 price target on the stock. KeyCorp reiterated a buy rating and issued a $161.00 price target (up from $156.00) on shares of WABCO in a report on Tuesday, September 19th. Citigroup boosted their target price on shares of WABCO from $165.00 to $180.00 and gave the stock a buy rating in a report on Friday, October 20th. Finally, Stifel Nicolaus restated a buy rating and issued a $160.00 target price on shares of WABCO in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $159.73.

Shares of WABCO (NYSE:WBC) opened at $152.71 on Thursday. WABCO has a fifty-two week low of $103.40 and a fifty-two week high of $156.08. The company has a current ratio of 3.00, a quick ratio of 2.60 and a debt-to-equity ratio of 0.99. The company has a market cap of $8,190.00, a P/E ratio of 27.61, a PEG ratio of 1.32 and a beta of 1.67.

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 company had revenue of $827.80 million for the quarter, compared to analysts’ expectations of $756.57 million. WABCO had a net margin of 9.75% and a return on equity of 38.93%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company posted $1.54 earnings per share. sell-side analysts forecast that WABCO will post 6.66 EPS for the current year.

In related news, Chairman Jacques Esculier sold 172,394 shares of the 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 sale, the chairman now directly owns 312,079 shares of the company’s stock, valued at $47,198,827.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in WBC. Alliancebernstein L.P. boosted its stake in WABCO by 4.6% during the second quarter. Alliancebernstein L.P. now owns 461,337 shares of the auto parts company’s stock worth $58,825,000 after buying an additional 20,348 shares during the period. Oakbrook Investments LLC purchased a new position in WABCO during the third quarter worth about $253,000. Cipher Capital LP purchased a new position in WABCO during the second quarter worth about $535,000. Toronto Dominion Bank boosted its stake 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 period. Finally, Pensionfund Sabic purchased a new position in shares of WABCO in the fourth quarter valued at approximately $1,435,000. Hedge funds and other institutional investors own 95.32% 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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