ABB Ltd. (NYSE:ABB) had its target price increased by Robert W. Baird from $21.00 to $24.00 in a research report report published on Wednesday morning. The firm currently has a neutral rating on the stock.
Several other analysts have also recently issued reports on the company. HSBC cut ABB from a buy rating to a hold rating in a research note on Friday, August 19th. Goldman Sachs Group Inc. reiterated a sell rating on shares of ABB in a research note on Thursday, September 22nd. Zacks Investment Research upgraded ABB from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research note on Tuesday, September 20th. BNP Paribas upgraded ABB from an underperform rating to an outperform rating in a research note on Thursday, September 1st. Finally, Citigroup Inc. reiterated a sell rating on shares of ABB in a research note on Wednesday, October 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. ABB presently has a consensus rating of Hold and a consensus price target of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.72 on Wednesday. The stock has a market cap of $48.33 billion, a P/E ratio of 29.47 and a beta of 1.20. ABB has a 52 week low of $15.74 and a 52 week high of $22.92. The stock has a 50 day moving average price of $22.30 and a 200-day moving average price of $20.91.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.09. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. ABB had a return on equity of 16.86% and a net margin of 4.91%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. Equities analysts predict that ABB will post $1.08 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. First Interstate Bank raised its position in ABB by 40.1% in the second quarter. First Interstate Bank now owns 6,065 shares of the company’s stock worth $120,000 after buying an additional 1,735 shares in the last quarter. Sei Investments Co. raised its position in ABB by 121.5% in the second quarter. Sei Investments Co. now owns 6,597 shares of the company’s stock worth $131,000 after buying an additional 3,618 shares in the last quarter. BlackRock Institutional Trust Company N.A. bought a new position in ABB during the first quarter worth about $150,000. Smith Asset Management Group LP bought a new position in ABB during the second quarter worth about $186,000. Finally, Suntrust Banks Inc. raised its position in ABB by 1.5% in the second quarter. Suntrust Banks Inc. now owns 10,342 shares of the company’s stock worth $203,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds 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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