DNB Markets began coverage on shares of ABB (NYSE:ABB) in a research report sent to investors on Monday, The Fly reports. The brokerage issued a buy rating on the industrial products company’s stock.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised ABB from a sell rating to a hold rating in a research note on Saturday, July 14th. JPMorgan Chase & Co. reissued a neutral rating on shares of ABB in a research note on Monday, June 11th. ValuEngine cut ABB from a hold rating to a sell rating in a research note on Tuesday, May 29th. Finally, Jefferies Financial Group raised ABB from an underperform rating to a hold rating and set a $23.00 target price for the company in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. ABB has an average rating of Hold and a consensus target price of $27.00.
NYSE ABB opened at $23.31 on Monday. ABB has a 52-week low of $21.22 and a 52-week high of $28.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.85. The company has a market cap of $50.28 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 2.49 and a beta of 1.22.
ABB (NYSE:ABB) last posted its earnings results on Thursday, July 19th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. ABB had a return on equity of 19.94% and a net margin of 6.24%. The business had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same period in the prior year, the business earned $0.30 EPS. ABB’s revenue for the quarter was up 5.1% compared to the same quarter last year. sell-side analysts expect that ABB will post 1.38 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in shares of ABB by 13.9% during the 1st quarter. Wells Fargo & Company MN now owns 1,463,013 shares of the industrial products company’s stock worth $34,732,000 after acquiring an additional 178,598 shares in the last quarter. Atria Investments LLC grew its stake in shares of ABB by 21.6% during the 1st quarter. Atria Investments LLC now owns 37,254 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 6,616 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in shares of ABB by 3.2% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 237,230 shares of the industrial products company’s stock worth $5,632,000 after acquiring an additional 7,365 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of ABB by 31.5% during the 1st quarter. SG Americas Securities LLC now owns 45,420 shares of the industrial products company’s stock worth $1,078,000 after acquiring an additional 10,879 shares in the last quarter. Finally, Advisor Partners LLC grew its stake in shares of ABB by 25.6% during the 1st quarter. Advisor Partners LLC now owns 17,455 shares of the industrial products company’s stock worth $414,000 after acquiring an additional 3,563 shares in the last quarter. 5.31% of the stock is owned by institutional investors and hedge funds.
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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