ABB (ABB) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of ABB (NYSE:ABB) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “ABB’s shares have outperformed the industry’s average return over the last six months. ABB has an excellent earnings surprise history over the trailing four quarters. ABB continues 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 and uncertainty in the process industries remain major headwinds for the company. Lower capital spending in the company’s key upstream energy end-markets will hurt its prospects. Moreover, a stringent competitive environment, volatility in raw material prices and dwindling customer expenditure add to the woes.”

Several other equities research analysts also recently weighed in on the stock. Deutsche Bank raised shares of ABB from a hold rating to a buy rating in a research note on Monday, December 4th. Goldman Sachs Group reaffirmed a buy rating on shares of ABB in a research note on Monday, November 6th. Robert W. Baird reaffirmed a buy rating and issued a $29.00 price target on shares of ABB in a research note on Friday, December 15th. JPMorgan Chase & Co. reaffirmed a neutral rating on shares of ABB in a research note on Friday, November 24th. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $26.67.

ABB (NYSE ABB) opened at $28.01 on Thursday. ABB has a 52 week low of $22.04 and a 52 week high of $28.26. The firm has a market cap of $60,729.82, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.92 and a beta of 1.06. 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 announced its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter last year, the firm earned $0.32 earnings per share. ABB’s quarterly revenue was up 5.7% on a year-over-year basis. analysts expect that ABB will post 1.22 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Scotia Capital Inc. increased its position in shares of ABB by 2.2% during the second quarter. Scotia Capital Inc. now owns 14,850 shares of the industrial products company’s stock worth $370,000 after acquiring an additional 314 shares in the last quarter. Sandhill Capital Partners LLC increased its position in shares of ABB by 3.4% during the second quarter. Sandhill Capital Partners LLC now owns 21,778 shares of the industrial products company’s stock worth $542,000 after acquiring an additional 721 shares in the last quarter. Logan Capital Management Inc. increased its position in shares of ABB by 1.9% during the second quarter. Logan Capital Management Inc. now owns 40,233 shares of the industrial products company’s stock worth $1,002,000 after acquiring an additional 760 shares in the last quarter. First Allied Advisory Services Inc. increased its position in shares of ABB by 7.5% during the second quarter. First Allied Advisory Services Inc. now owns 26,830 shares of the industrial products company’s stock worth $662,000 after acquiring an additional 1,880 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of ABB by 9.3% during the second quarter. Advisor Group Inc. now owns 22,158 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 1,888 shares in the last quarter. 4.73% of the stock is owned by institutional investors.

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ABB Company Profile

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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