Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of ABB from a hold rating to a sell rating in a research report on Thursday, October 6th. Bank of America Corp. set a $23.00 price objective on shares of ABB and gave the company a hold rating in a research report on Tuesday, October 4th. Robert W. Baird lifted their price objective on shares of ABB from $21.00 to $24.00 and gave the company a neutral rating in a research report on Wednesday, October 5th. Goldman Sachs Group Inc. reiterated a sell rating on shares of ABB in a research report on Thursday, September 22nd. Finally, BNP Paribas upgraded shares of ABB from an underperform rating to an outperform rating in a research report on Thursday, September 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $23.75.
Shares of ABB (NYSE:ABB) traded up 0.58% during mid-day trading on Thursday, hitting $22.38. 702,398 shares of the company’s stock traded hands. ABB has a 1-year low of $15.74 and a 1-year high of $22.92. The stock has a market cap of $47.60 billion, a P/E ratio of 29.03 and a beta of 1.20. The stock has a 50 day moving average price of $22.35 and a 200-day moving average price of $20.99.
ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the firm posted $0.33 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts anticipate that ABB will post $1.08 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. First Interstate Bank boosted its position in ABB by 40.1% in the second quarter. First Interstate Bank now owns 6,065 shares of the company’s stock valued at $120,000 after buying an additional 1,735 shares during the last quarter. Sei Investments Co. boosted its position in ABB by 121.5% in the second quarter. Sei Investments Co. now owns 6,597 shares of the company’s stock valued at $131,000 after buying an additional 3,618 shares during the last quarter. BlackRock Institutional Trust Company N.A. bought a new position in ABB during the first quarter valued at approximately $150,000. Smith Asset Management Group LP bought a new position in ABB during the second quarter valued at approximately $186,000. Finally, Suntrust Banks Inc. boosted its position in ABB by 1.5% in the second quarter. Suntrust Banks Inc. now owns 10,342 shares of the company’s stock valued at $203,000 after buying an additional 157 shares during the last quarter. 3.27% of the stock is currently owned by hedge funds and other institutional investors.
ABB Company Profile
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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