ABB (NYSE:ABB) Upgraded at ValuEngine

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ValuEngine upgraded shares of ABB (NYSE:ABB) from a sell rating to a hold rating in a research report released on Monday morning, ValuEngine reports.

Several other analysts have also recently issued reports on the stock. UBS Group reissued a hold rating and set a $20.50 price objective on shares of ABB in a research note on Thursday, July 25th. Zacks Investment Research cut shares of ABB from a buy rating to a hold rating in a research note on Friday, May 3rd. Deutsche Bank reissued a buy rating and set a $23.00 price objective on shares of ABB in a research note on Friday, July 26th. Societe Generale cut shares of ABB from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, Morgan Stanley reissued a hold rating and set a $20.10 price objective on shares of ABB in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $20.37.

Shares of NYSE ABB opened at $18.38 on Monday. ABB has a 52-week low of $17.71 and a 52-week high of $24.45. The company’s fifty day moving average is $18.95. The stock has a market cap of $39.55 billion, a PE ratio of 13.82, a PEG ratio of 3.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.32 and a quick ratio of 1.09.

ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.08. ABB had a net margin of 4.95% and a return on equity of 18.97%. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that ABB will post 0.86 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Oakworth Capital Inc. purchased a new stake in ABB during the 2nd quarter worth $26,000. Cornerstone Advisors Inc. boosted its position in ABB by 76.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 602 shares during the period. Bremer Bank National Association purchased a new stake in ABB during the 1st quarter worth $29,000. Institutional & Family Asset Management LLC purchased a new stake in ABB during the 1st quarter worth $35,000. Finally, Point72 Asset Management L.P. purchased a new stake in ABB during the 2nd quarter worth $42,000. 4.67% of the stock is owned by hedge funds and other institutional investors.

ABB Company Profile

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Analyst Recommendations for ABB (NYSE:ABB)

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