WABCO (WBC) Cut to “Neutral” at Piper Jaffray Companies

Piper Jaffray Companies cut shares of WABCO (NYSE:WBC) from an overweight rating to a neutral rating in a research note released on Thursday, March 28th, The Fly reports. Piper Jaffray Companies currently has $137.00 price objective on the auto parts company’s stock.

WBC has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of WABCO from a neutral rating to an underweight rating and reduced their price objective for the stock from $115.00 to $98.00 in a research note on Thursday, January 10th. Stifel Nicolaus set a $135.00 price objective on shares of WABCO and gave the stock a buy rating in a research note on Monday, December 10th. Vertical Research cut shares of WABCO from a buy rating to a hold rating in a research note on Monday, January 7th. Morgan Stanley increased their price objective on shares of WABCO from $116.00 to $137.00 and gave the stock an equal weight rating in a research note on Monday, March 4th. Finally, ValuEngine raised shares of WABCO from a sell rating to a hold rating in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $134.20.

WBC traded up $0.07 during trading on Thursday, hitting $133.00. The company’s stock had a trading volume of 1,318,197 shares, compared to its average volume of 1,866,289. The company has a current ratio of 3.01, a quick ratio of 2.48 and a debt-to-equity ratio of 0.67. WABCO has a one year low of $98.90 and a one year high of $146.68. The company has a market capitalization of $6.83 billion, a PE ratio of 16.90, a PEG ratio of 1.14 and a beta of 1.61.

WABCO (NYSE:WBC) last announced its quarterly earnings data on Friday, February 15th. The auto parts company reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.14. The firm had revenue of $911.60 million during the quarter, compared to analysts’ expectations of $963.33 million. WABCO had a net margin of 10.29% and a return on equity of 32.91%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share. Equities analysts forecast that WABCO will post 7.8 earnings per share for the current fiscal year.

In related news, insider Nicolas Bardot sold 1,145 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $120.93, for a total transaction of $138,464.85. Following the completion of the transaction, the insider now directly owns 4,546 shares of the company’s stock, valued at $549,747.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of WABCO by 130.9% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,233 shares of the auto parts company’s stock worth $4,104,000 after buying an additional 21,674 shares in the last quarter. Man Group plc grew its stake in shares of WABCO by 374.9% in the 3rd quarter. Man Group plc now owns 53,668 shares of the auto parts company’s stock worth $6,330,000 after buying an additional 42,366 shares in the last quarter. First Manhattan Co. grew its stake in shares of WABCO by 37.3% in the 4th quarter. First Manhattan Co. now owns 1,394,914 shares of the auto parts company’s stock worth $149,730,000 after buying an additional 378,995 shares in the last quarter. United Services Automobile Association grew its stake in shares of WABCO by 727.6% in the 3rd quarter. United Services Automobile Association now owns 69,134 shares of the auto parts company’s stock worth $8,154,000 after buying an additional 60,780 shares in the last quarter. Finally, Daiwa SB Investments Ltd. grew its stake in shares of WABCO by 9.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 6,510 shares of the auto parts company’s stock worth $699,000 after buying an additional 540 shares in the last quarter.

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, steering, transmission automation, and air management systems primarily for commercial vehicles.

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Analyst Recommendations for WABCO (NYSE:WBC)

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