JPMorgan Chase & Co. Reiterates “Hold” Rating for ABB (ABB)

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ABB (NYSE:ABB)‘s stock had its “hold” rating reissued by equities research analysts at JPMorgan Chase & Co. in a report released on Thursday.

A number of other brokerages have also weighed in on ABB. Zacks Investment Research lowered shares of ABB from a “buy” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Citigroup upgraded shares of ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, September 4th. Jefferies Financial Group upgraded shares of ABB from an “underperform” rating to a “hold” rating and set a $23.00 price objective for the company in a report on Wednesday, July 11th. Finally, DNB Markets started coverage on shares of ABB in a report on Monday, September 3rd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.67.

ABB stock opened at $20.98 on Thursday. ABB has a 52-week low of $20.89 and a 52-week high of $28.67. The company has a market cap of $45.70 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 0.47.

ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. ABB had a net margin of 6.24% and a return on equity of 19.94%. The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $9.03 billion. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts predict that ABB will post 1.42 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in ABB by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,808,310 shares of the industrial products company’s stock worth $90,409,000 after purchasing an additional 39,560 shares during the period. JPMorgan Chase & Co. grew its position in ABB by 19.8% in the 1st quarter. JPMorgan Chase & Co. now owns 287,748 shares of the industrial products company’s stock worth $6,831,000 after purchasing an additional 47,644 shares during the period. Hsbc Holdings PLC bought a new stake in ABB in the 1st quarter worth approximately $238,000. Commonwealth Equity Services LLC grew its position in ABB by 8.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 79,353 shares of the industrial products company’s stock worth $1,884,000 after purchasing an additional 6,011 shares during the period. Finally, Blair William & Co. IL grew its position in ABB by 14.7% in the 1st quarter. Blair William & Co. IL now owns 66,124 shares of the industrial products company’s stock worth $1,570,000 after purchasing an additional 8,460 shares during the period. Institutional investors own 5.30% 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.

See Also: Return on Equity (ROE)

Analyst Recommendations for ABB (NYSE:ABB)

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