ABB (ABB) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of ABB (NYSE:ABB) from a buy rating to a hold rating in a research note published on Wednesday, December 27th.

According to Zacks, “ABB’s shares have outperformed the industry’s average return over the past year. ABB’s operations continue to benefit from power infrastructure investments and strategic restructuring plans. Strong order growth, particularly in Robotics and Motion segment, bode well for the coming quarters. The third stage of ABB’s revamped “Next Level Strategy” will help unlock ABB’s full digital potential, increasing momentum in operational excellence and boosting the company’s brand. However, volatility in oil & gas markets, tough macroeconomic and geopolitical conditions and uncertainty in the process industries remain major headwinds. Also, a stringent competitive environment, volatility in raw material prices and dwindling customer expenditure add to the woes. This apart, lower capital spending in the company’s key upstream energy end-markets will hurt its prospects.”

A number of other research analysts have also commented on ABB. Robert W. Baird reiterated a buy rating and issued a $29.00 price target on shares of ABB in a research note on Wednesday, October 4th. Goldman Sachs Group upgraded shares of ABB from a neutral rating to a conviction-buy rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. reiterated a neutral rating on shares of ABB in a research note on Friday, November 24th. Jefferies Group set a $20.00 price target on shares of ABB and gave the company a sell rating in a research note on Tuesday, November 28th. Finally, Deutsche Bank upgraded shares of ABB from a hold rating to a buy rating in a research note on Monday, December 4th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $26.67.

ABB (NYSE:ABB) opened at $27.72 on Wednesday. The firm has a market cap of $59,660.00, a PE ratio of 26.40, a PEG ratio of 2.88 and a beta of 1.06. ABB has a 52 week low of $22.04 and a 52 week high of $27.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the business earned $0.32 EPS. ABB’s revenue for the quarter was up 5.7% compared to the same quarter last year. research analysts predict that ABB will post 1.27 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia Trust Co. bought a new stake in ABB in the 3rd quarter valued at about $113,000. Cubist Systematic Strategies LLC boosted its holdings in ABB by 296.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 3,590 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in ABB in the 2nd quarter valued at about $120,000. Quantbot Technologies LP bought a new stake in ABB in the 3rd quarter valued at about $184,000. Finally, Boyd Watterson Asset Management LLC OH bought a new stake in ABB in the 4th quarter valued at about $207,000. 4.73% of the stock is owned by hedge funds and other institutional investors.

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About ABB

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

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