ABB Ltd. (NYSE:ABB) has been assigned a $23.00 target price by stock analysts at Bank of America Corp. in a report released on Tuesday. The brokerage currently has a a “hold” rating on the stock. Bank of America Corp.’s price objective suggests a potential upside of 1.91% from the stock’s current price.
ABB has been the topic of several other reports. Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Goldman Sachs Group Inc. reissued a “sell” rating on shares of ABB in a report on Thursday, September 22nd. Robert W. Baird raised their target price on shares of ABB from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ABB in a report on Monday, June 13th. Finally, Citigroup Inc. reaffirmed a “sell” rating on shares of ABB in a report on Wednesday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.75.
ABB (NYSE:ABB) traded up 0.820% during midday trading on Tuesday, reaching $22.755. The company’s stock had a trading volume of 955,013 shares. The firm has a market cap of $48.40 billion, a P/E ratio of 29.514 and a beta of 1.20. ABB has a 52 week low of $15.74 and a 52 week high of $22.88. The firm has a 50 day moving average price of $22.24 and a 200-day moving average price of $20.86.
ABB (NYSE:ABB) last issued its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. ABB’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. On average, analysts forecast that ABB will post $1.08 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of ABB. HBK Investments L P raised its stake in shares of ABB by 50.6% in the first quarter. HBK Investments L P now owns 171,093 shares of the company’s stock worth $3,323,000 after buying an additional 57,493 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock worth $220,657,000 after buying an additional 390,035 shares in the last quarter. Simmons Bank bought a new stake in shares of ABB during the first quarter worth $455,000. Geode Capital Management LLC raised its stake in shares of ABB by 11.9% in the first quarter. Geode Capital Management LLC now owns 13,612 shares of the company’s stock worth $264,000 after buying an additional 1,451 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of ABB by 47.5% in the first quarter. UBS Group AG now owns 856,662 shares of the company’s stock worth $16,636,000 after buying an additional 275,986 shares in the last quarter. Hedge funds and other institutional investors own 3.27% of the company’s stock.
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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