ABB (ABB) Rating Increased to Buy at Citigroup

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ABB (NYSE:ABB) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat.com reports.

ABB has been the subject of several other research reports. DNB Markets began coverage on ABB in a report on Monday. They set a “buy” rating for the company. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a report on Thursday, August 23rd. Jefferies Financial Group upgraded ABB from an “underperform” rating to a “hold” rating and set a $23.00 price target for the company in a report on Wednesday, July 11th. Finally, ValuEngine cut ABB from a “hold” rating to a “sell” rating in a report on Tuesday, May 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.

NYSE ABB opened at $23.31 on Tuesday. The company has a market cap of $50.28 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.85. ABB has a 1-year low of $21.22 and a 1-year high of $28.67.

ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $9.03 billion. ABB had a return on equity of 19.94% and a net margin of 6.24%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. research analysts forecast that ABB will post 1.38 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of ABB by 6.2% in the 2nd quarter. Fisher Asset Management LLC now owns 10,265,149 shares of the industrial products company’s stock valued at $223,472,000 after purchasing an additional 600,743 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of ABB by 5.3% in the 2nd quarter. Bank of America Corp DE now owns 7,626,928 shares of the industrial products company’s stock valued at $166,038,000 after purchasing an additional 383,395 shares during the last quarter. Boston Partners lifted its stake in shares of ABB by 5.3% in the 2nd quarter. Boston Partners now owns 7,380,465 shares of the industrial products company’s stock valued at $160,673,000 after purchasing an additional 370,034 shares during the last quarter. Northern Trust Corp lifted its stake in shares of ABB by 0.7% in the 1st quarter. Northern Trust Corp now owns 5,737,963 shares of the industrial products company’s stock valued at $136,220,000 after purchasing an additional 40,284 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. lifted its stake in shares of ABB by 0.5% in the 1st quarter. Schafer Cullen Capital Management Inc. now owns 3,837,783 shares of the industrial products company’s stock valued at $91,109,000 after purchasing an additional 17,237 shares during the last quarter. Institutional investors and hedge funds own 5.31% 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.

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Analyst Recommendations for ABB (NYSE:ABB)

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