Zacks Investment Research downgraded shares of WABCO (NYSE:WBC) from a buy rating to a hold rating in a report issued on Sunday morning.
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 subject of a number of other research reports. Vertical Research cut WABCO from a buy rating to a hold rating in a research report on Monday, October 23rd. KeyCorp lifted their price objective on WABCO from $161.00 to $165.00 and gave the stock an overweight rating in a research report on Friday, October 20th. Robert W. Baird lifted their price objective on WABCO from $170.00 to $182.00 and gave the stock an outperform rating in a research report on Friday, October 20th. Berenberg Bank assumed coverage on WABCO in a research report on Monday, September 25th. They set a buy rating and a $173.00 price objective for the company. Finally, Goldman Sachs Group reiterated a neutral rating and set a $147.00 price objective (up previously from $128.00) on shares of WABCO in a research report on Wednesday, October 4th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $159.87.
WABCO (NYSE:WBC) traded up $2.11 during trading hours on Friday, hitting $161.00. The stock had a trading volume of 687,400 shares, compared to its average volume of 305,577. The firm has a market cap of $8,637.35, a P/E ratio of 29.06, a PEG ratio of 1.42 and a beta of 1.67. WABCO has a fifty-two week low of $104.08 and a fifty-two week high of $162.20. The company has a quick ratio of 2.60, a current ratio of 3.00 and a debt-to-equity ratio of 0.99.
In other news, Chairman Jacques Esculier sold 172,394 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $151.24, for a total transaction of $26,072,868.56. Following the completion of the sale, the chairman now owns 312,079 shares in the company, valued at approximately $47,198,827.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
Several large investors have recently modified their holdings of WBC. Zions Bancorporation purchased a new stake in shares of WABCO during the 3rd quarter worth about $179,000. Brown Advisory Inc. bought a new position in WABCO during the 3rd quarter worth $202,000. Cadence Capital Management LLC bought a new position in WABCO during the 3rd quarter worth $207,000. Massey Quick Simon & CO. LLC grew its stake in WABCO by 855.3% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 1,452 shares of the auto parts company’s stock worth $215,000 after buying an additional 1,300 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in WABCO during the 2nd quarter worth $242,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
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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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