ABB (ABB) Price Target Lowered to $27.00 at Robert W. Baird
ABB (NYSE:ABB) had its target price lowered by Robert W. Baird from $29.00 to $27.00 in a research note published on Friday morning. The firm currently has a neutral rating on the industrial products company’s stock.
A number of other equities research analysts also recently issued reports on ABB. Berenberg Bank upgraded shares of ABB from a sell rating to a hold rating in a research note on Wednesday, January 17th. Zacks Investment Research downgraded shares of ABB from a buy rating to a hold rating in a research note on Thursday, January 18th. Jefferies Group set a $20.00 price objective on shares of ABB and gave the stock a sell rating in a research note on Tuesday, November 28th. JPMorgan Chase & Co. reiterated a neutral rating on shares of ABB in a research note on Friday, November 24th. Finally, Bank of America downgraded shares of ABB from a buy rating to a neutral rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. ABB currently has a consensus rating of Hold and a consensus target price of $26.00.
Shares of ABB (ABB) traded up $0.01 during trading on Friday, reaching $24.30. 5,081,536 shares of the company’s stock were exchanged, compared to its average volume of 2,100,000. The firm has a market capitalization of $52,390.00, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.03. ABB has a 12-month low of $22.04 and a 12-month high of $28.67.
Hedge funds have recently bought and sold shares of the company. Bank of Nova Scotia Trust Co. bought a new position in shares of ABB in the third quarter worth about $113,000. Cubist Systematic Strategies LLC lifted its holdings in shares of ABB by 296.7% in the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 3,590 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of ABB in the second quarter worth about $120,000. Quantbot Technologies LP bought a new position in shares of ABB in the third quarter worth about $184,000. Finally, Round Table Services LLC bought a new position in shares of ABB in the fourth quarter worth about $203,000. 4.77% of the stock is owned by hedge funds and other institutional investors.
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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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