Robert W. Baird reaffirmed their buy rating on shares of ABB Ltd (NYSE:ABB) in a research report report published on Wednesday. They currently have a $29.00 target price on the industrial products company’s stock.
ABB has been the subject of a number of other research reports. Morgan Stanley downgraded ABB from an overweight rating to an equal weight rating in a report on Friday, July 21st. UBS AG reissued a sell rating on shares of ABB in a report on Monday, July 24th. BidaskClub downgraded ABB from a strong-buy rating to a buy rating in a report on Monday, July 24th. Citigroup Inc. reissued a sell rating on shares of ABB in a report on Friday, June 9th. Finally, Zacks Investment Research downgraded ABB from a hold rating to a sell rating in a report on Tuesday, September 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $23.50.
ABB (ABB) traded down 0.24% during midday trading on Wednesday, reaching $25.06. The company had a trading volume of 859,131 shares. ABB has a 12 month low of $20.26 and a 12 month high of $25.83. The firm has a market capitalization of $53.48 billion, a PE ratio of 24.14 and a beta of 1.06. The firm’s 50-day moving average price is $23.95 and its 200 day moving average price is $24.18.
ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a net margin of 6.87% and a return on equity of 18.62%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. Equities analysts anticipate that ABB will post $1.23 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in ABB. Financial Architects Inc lifted its holdings in ABB by 2,404.2% during the 2nd quarter. Financial Architects Inc now owns 4,182 shares of the industrial products company’s stock worth $104,000 after buying an additional 4,015 shares during the last quarter. Ledyard National Bank lifted its holdings in ABB by 3.6% during the 2nd quarter. Ledyard National Bank now owns 4,350 shares of the industrial products company’s stock worth $108,000 after buying an additional 150 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in ABB by 296.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after buying an additional 3,590 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in ABB during the 2nd quarter worth approximately $120,000. Finally, Huntington National Bank lifted its holdings in ABB by 40.3% during the 2nd quarter. Huntington National Bank now owns 5,484 shares of the industrial products company’s stock worth $137,000 after buying an additional 1,575 shares during the last quarter. 4.42% of the stock is currently owned by institutional investors.
ABB Company Profile
ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.
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