ABB (ABB) Lowered to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of ABB (NYSE:ABB) from a neutral rating to an underweight rating in a research report report published on Monday, MarketBeat.com reports. They currently have $20.36 target price on the industrial products company’s stock.

A number of other analysts also recently commented on ABB. ValuEngine upgraded shares of ABB from a sell rating to a hold rating in a research report on Wednesday, August 29th. DNB Markets started coverage on shares of ABB in a research report on Monday, September 3rd. They set a buy rating on the stock. Citigroup upgraded shares of ABB from a neutral rating to a buy rating in a research report on Tuesday, September 4th. Societe Generale upgraded shares of ABB from a hold rating to a buy rating in a research report on Thursday, September 13th. Finally, Zacks Investment Research upgraded shares of ABB from a hold rating to a buy rating and set a $27.00 price target on the stock in a research report on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. ABB currently has an average rating of Hold and an average price target of $24.34.

ABB stock opened at $19.66 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. The stock has a market cap of $43.37 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 2.13 and a beta of 1.27. ABB has a 52-week low of $19.08 and a 52-week high of $28.67.

ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). ABB had a return on equity of 19.99% and a net margin of 6.24%. The company had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $9.46 billion. Equities analysts forecast that ABB will post 1.39 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in ABB. Baird Financial Group Inc. bought a new stake in shares of ABB in the 3rd quarter worth approximately $62,258,000. JPMorgan Chase & Co. raised its holdings in shares of ABB by 296.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,230,680 shares of the industrial products company’s stock worth $29,081,000 after purchasing an additional 920,247 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ABB by 2,682.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 773,750 shares of the industrial products company’s stock worth $18,284,000 after purchasing an additional 745,943 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of ABB by 3,382.5% in the 3rd quarter. Jane Street Group LLC now owns 626,848 shares of the industrial products company’s stock worth $14,812,000 after purchasing an additional 608,848 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of ABB by 14,142.2% in the 3rd quarter. Clearbridge Investments LLC now owns 591,050 shares of the industrial products company’s stock worth $13,967,000 after purchasing an additional 586,900 shares in the last quarter. Institutional investors own 4.87% of the company’s stock.

ABB Company Profile

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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