WABCO Holdings Inc. (WBC) Sees Significant Decrease in Short Interest

WABCO Holdings Inc. (NYSE:WBC) saw a significant decline in short interest in the month of September. As of September 28th, there was short interest totalling 794,567 shares, a decline of 32.5% from the September 14th total of 1,176,543 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 525,890 shares, the days-to-cover ratio is currently 1.5 days.

WBC stock traded down $1.82 during midday trading on Friday, reaching $111.17. The company had a trading volume of 429,256 shares, compared to its average volume of 683,067. The company has a market cap of $5.92 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 0.98 and a beta of 1.79. WABCO has a 1-year low of $100.80 and a 1-year high of $162.20. The company has a quick ratio of 1.89, a current ratio of 2.28 and a debt-to-equity ratio of 0.70.

WABCO (NYSE:WBC) last issued its earnings results on Thursday, October 18th. The auto parts company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.19. The firm had revenue of $914.80 million during the quarter, compared to the consensus estimate of $932.66 million. WABCO had a return on equity of 33.10% and a net margin of 11.62%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 earnings per share. On average, analysts anticipate that WABCO will post 7.73 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Gideon Capital Advisors Inc. raised its stake in WABCO by 67.9% during the second quarter. Gideon Capital Advisors Inc. now owns 4,321 shares of the auto parts company’s stock worth $506,000 after acquiring an additional 1,748 shares in the last quarter. Swiss National Bank raised its stake in WABCO by 9.0% during the second quarter. Swiss National Bank now owns 177,600 shares of the auto parts company’s stock worth $20,783,000 after acquiring an additional 14,700 shares in the last quarter. Renaissance Technologies LLC raised its stake in WABCO by 126.7% during the second quarter. Renaissance Technologies LLC now owns 366,500 shares of the auto parts company’s stock worth $42,888,000 after acquiring an additional 204,800 shares in the last quarter. Wafra Inc. acquired a new position in WABCO during the second quarter worth about $6,990,000. Finally, BB&T Corp raised its stake in WABCO by 32.6% during the third quarter. BB&T Corp now owns 6,619 shares of the auto parts company’s stock worth $780,000 after acquiring an additional 1,626 shares in the last quarter. 98.02% of the stock is owned by hedge funds and other institutional investors.

WBC has been the subject of a number of recent research reports. BMO Capital Markets reissued a “hold” rating and issued a $135.00 target price on shares of WABCO in a research report on Thursday, July 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $160.00 price target on shares of WABCO in a research note on Friday, July 20th. Stifel Nicolaus set a $159.00 price target on WABCO and gave the company a “buy” rating in a research note on Friday, July 20th. Morgan Stanley dropped their price target on WABCO from $159.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 20th. Finally, Robert W. Baird downgraded WABCO from an “outperform” rating to a “neutral” rating in a research note on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $132.82.

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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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