ABB (OTCMKTS:ABBNY) Rating Lowered to “Hold” at Erste Group Bank

ABB (OTCMKTS:ABBNY) was downgraded by research analysts at Erste Group Bank from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

ABBNY has been the topic of several other reports. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen restated a “hold” rating on shares of ABB in a research note on Tuesday, June 30th. Pareto Securities raised shares of ABB from a “hold” rating to a “buy” rating in a report on Thursday, July 16th. Finally, Citigroup reissued a “neutral” rating on shares of ABB in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.00.

ABB Stock Performance

Shares of ABBNY opened at $98.46 on Thursday. The firm has a market cap of $179.51 billion, a PE ratio of 35.55, a PEG ratio of 1.46 and a beta of 1.36. The stock’s fifty day moving average price is $101.38 and its two-hundred day moving average price is $97.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 1.08. ABB has a 1 year low of $65.42 and a 1 year high of $110.20.

ABB (OTCMKTS:ABBNY) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.13). ABB had a return on equity of 31.25% and a net margin of 13.86%.The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.34 billion. On average, equities research analysts forecast that ABB will post 3.78 EPS for the current year.

Institutional Investors Weigh In On ABB

An institutional investor recently bought a new position in ABB stock. North Star Asset Management Inc. acquired a new stake in ABB Ltd (OTCMKTS:ABBNY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.