Shares of ABB Ltd (NYSE:ABB) have been given an average rating of “Hold” by the eighteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.67.
ABB has been the subject of a number of research analyst reports. Deutsche Bank reiterated a “buy” rating and issued a $24.00 price target on shares of ABB in a research note on Tuesday, May 21st. Zacks Investment Research upgraded shares of ABB from a “strong sell” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Wednesday, May 1st. ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Royal Bank of Canada restated a “hold” rating and set a $21.00 target price on shares of ABB in a research report on Friday, May 3rd. Finally, DNB Markets lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABB. Bremer Trust National Association bought a new stake in ABB during the fourth quarter valued at approximately $26,000. Cornerstone Advisors Inc. lifted its holdings in ABB by 76.4% during the first quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 602 shares in the last quarter. Bremer Bank National Association purchased a new position in ABB during the first quarter valued at approximately $29,000. Sontag Advisory LLC purchased a new position in ABB during the fourth quarter valued at approximately $35,000. Finally, Institutional & Family Asset Management LLC purchased a new position in ABB during the first quarter valued at approximately $35,000. Institutional investors own 4.92% of the company’s stock.
Shares of ABB stock traded up $0.07 during trading hours on Friday, reaching $20.03. The company had a trading volume of 1,563,599 shares, compared to its average volume of 1,749,312. The business has a fifty day moving average of $19.07. ABB has a one year low of $18.05 and a one year high of $24.45. The firm has a market capitalization of $42.69 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 2.95 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52.
ABB (NYSE:ABB) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. ABB had a net margin of 6.59% and a return on equity of 19.31%. The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that ABB will post 0.99 earnings per share for the current fiscal year.
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.
Recommended Story: What is a Roth IRA?
Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.