WABCO (NYSE:WBC) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $95.00 price target on the auto parts company’s stock, down from their previous price target of $130.00. Bank of America’s target price would suggest a potential downside of 8.05% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on WBC. Mizuho initiated coverage on shares of WABCO in a report on Thursday, June 28th. They issued a “neutral” rating and a $130.00 price objective on the stock. ValuEngine cut shares of WABCO from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Zacks Investment Research cut shares of WABCO from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. BMO Capital Markets restated a “hold” rating and issued a $135.00 price objective on shares of WABCO in a report on Thursday, July 19th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $160.00 price target on shares of WABCO in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $145.92.
WBC traded down $6.68 during midday trading on Wednesday, reaching $103.32. The company’s stock had a trading volume of 4,256 shares, compared to its average volume of 425,602. The stock has a market cap of $6.24 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.07 and a current ratio of 2.48. WABCO has a 1 year low of $106.27 and a 1 year high of $162.20.
Several large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY grew its holdings 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 buying an additional 433 shares during the last quarter. Daiwa SB Investments Ltd. lifted its position in 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 during the period. Amalgamated Bank lifted its position in 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 during the period. Wesbanco Bank Inc. lifted its position in WABCO by 28.6% during the second quarter. Wesbanco Bank Inc. now owns 3,600 shares of the auto parts company’s stock valued at $421,000 after purchasing an additional 800 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its position in WABCO by 7.0% during the first quarter. Xact Kapitalforvaltning AB now owns 12,351 shares of the auto parts company’s stock valued at $1,653,000 after purchasing an additional 811 shares during the period.
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.
Recommended Story: Calculate Your Return on Investment (ROI)
Receive News & Ratings for WABCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WABCO and related companies with MarketBeat.com's FREE daily email newsletter.