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Share price of WABCO Holdings Inc. increased to $108.4 on Dec 6 after the company announced a new two-year share repurchase program under which, the company will repurchase shares worth up to $600 million from Jan 1, 2017 through Dec 31, 2018. This new share repurchase authorization depicts the company’s initiative to enhance shareholders’ value.
WABCO follows an aggressive share repurchase policy. From Jun 2011 till Sep 30, 2016, the company repurchased 17,686,912 shares for $1.4 billion. The company has remaining authorization worth $63.3 million under its previous share repurchase programs.
The strong financial position of WABCO supports the company’s share repurchase initiative. It had cash and cash equivalents of $710.1 million as of Sep 30, 2016, reflecting an increase from $515.2 million as of Dec 31, 2016. During the first nine months ended Sep 30, 2016, operating cash flow was $288.6 million, marginally higher than $283.4 million in the year-ago period.
WABCO has outperformed the Zacks categorized Auto/Truck-Original Equipment industry so far this year. The company’s shares have gained 8.45%, compared to a 6.27% rise recorded by the industry. The rise in share price is due to better results recorded in the last quarter, improved revenue guidance and capital deployment undertaken by the company to boost shareholders’ value.
Zacks Rank & Key Picks
Currently, WABCO carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the auto space include Allison Transmission Holdings, Inc. (ALSN - Free Report) , America's Car-Mart Inc. (CRMT - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) .
Allison Transmission has a long-term growth rate of 11%.
America's Car-Mart has a long-term growth rate of 45.50%.
Rush Enterprises, carrying a Zacks Rank #2 (Buy), has a long-term expected growth rate of 15%.
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Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
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WABCO Approves New $600M Share Buyback Program
Share price of WABCO Holdings Inc. increased to $108.4 on Dec 6 after the company announced a new two-year share repurchase program under which, the company will repurchase shares worth up to $600 million from Jan 1, 2017 through Dec 31, 2018. This new share repurchase authorization depicts the company’s initiative to enhance shareholders’ value.
WABCO follows an aggressive share repurchase policy. From Jun 2011 till Sep 30, 2016, the company repurchased 17,686,912 shares for $1.4 billion. The company has remaining authorization worth $63.3 million under its previous share repurchase programs.
The strong financial position of WABCO supports the company’s share repurchase initiative. It had cash and cash equivalents of $710.1 million as of Sep 30, 2016, reflecting an increase from $515.2 million as of Dec 31, 2016. During the first nine months ended Sep 30, 2016, operating cash flow was $288.6 million, marginally higher than $283.4 million in the year-ago period.
WABCO HOLDINGS Price
WABCO HOLDINGS Price | WABCO HOLDINGS Quote
Price Performance
WABCO has outperformed the Zacks categorized Auto/Truck-Original Equipment industry so far this year. The company’s shares have gained 8.45%, compared to a 6.27% rise recorded by the industry. The rise in share price is due to better results recorded in the last quarter, improved revenue guidance and capital deployment undertaken by the company to boost shareholders’ value.
Zacks Rank & Key Picks
Currently, WABCO carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the auto space include Allison Transmission Holdings, Inc. (ALSN - Free Report) , America's Car-Mart Inc. (CRMT - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) .
Both Allison Transmission and America's Car-Mart sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has a long-term growth rate of 11%.
America's Car-Mart has a long-term growth rate of 45.50%.
Rush Enterprises, carrying a Zacks Rank #2 (Buy), has a long-term expected growth rate of 15%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>