Bank of America upgraded shares of ABB (NYSE:ABB) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat.com reports.
Several other research firms have also issued reports on ABB. Zacks Investment Research upgraded ABB from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Wednesday, September 19th. Societe Generale upgraded ABB from a hold rating to a buy rating in a report on Thursday, September 13th. JPMorgan Chase & Co. reiterated a neutral rating on shares of ABB in a report on Monday, October 8th. TheStreet lowered ABB from a b rating to a c+ rating in a report on Thursday, November 8th. Finally, Berenberg Bank reiterated a hold rating on shares of ABB in a report on Monday, November 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $22.87.
ABB opened at $19.40 on Tuesday. ABB has a 52-week low of $18.05 and a 52-week high of $28.67. The stock has a market cap of $42.22 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.10 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.18.
ABB (NYSE:ABB) last released its earnings results on Thursday, October 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts predict that ABB will post 1.27 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC raised its stake in ABB by 4.4% in the third quarter. Fisher Asset Management LLC now owns 10,714,586 shares of the industrial products company’s stock valued at $253,186,000 after buying an additional 449,437 shares during the period. Bank of America Corp DE increased its stake in shares of ABB by 5.3% during the second quarter. Bank of America Corp DE now owns 7,626,928 shares of the industrial products company’s stock worth $166,038,000 after purchasing an additional 383,395 shares during the period. Northern Trust Corp increased its stake in shares of ABB by 3.9% during the second quarter. Northern Trust Corp now owns 5,964,429 shares of the industrial products company’s stock worth $129,846,000 after purchasing an additional 226,466 shares during the period. BlackRock Inc. increased its stake in shares of ABB by 9.7% during the third quarter. BlackRock Inc. now owns 4,125,709 shares of the industrial products company’s stock worth $97,491,000 after purchasing an additional 366,275 shares during the period. Finally, Baird Financial Group Inc. bought a new position in shares of ABB during the third quarter worth approximately $62,258,000. Hedge funds and other 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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