Bank of America Downgrades WABCO (WBC) to Underperform

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.

WABCO (NYSE:WBC) last announced its quarterly earnings data on Thursday, July 19th. The auto parts company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.10. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.16 million. WABCO had a net margin of 11.77% and a return on equity of 34.37%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. Equities research analysts predict that WABCO will post 7.5 EPS for the current year.

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.

About WABCO

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)

Analyst Recommendations for WABCO (NYSE:WBC)

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.

Leave a Reply