ABB Sees Unusually High Options Volume (ABB)
ABB Ltd (NYSE:ABB) was the recipient of some unusual options trading on Monday. Investors purchased 4,085 call options on the company. This represents an increase of approximately 680% compared to the typical daily volume of 524 call options.
A number of brokerages have recently issued reports on ABB. Societe Generale upgraded ABB from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. DNB Markets began coverage on ABB in a research report on Monday, September 3rd. They set a “buy” rating on the stock. ValuEngine lowered ABB from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Zacks Investment Research upgraded ABB from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Wednesday, September 19th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research note on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.67.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc acquired a new stake in shares of ABB in the 3rd quarter worth $100,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of ABB in the 1st quarter worth $143,000. Hsbc Holdings PLC acquired a new stake in shares of ABB in the 1st quarter worth $238,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of ABB by 182.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,170 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 6,566 shares during the last quarter. Finally, Round Table Services LLC acquired a new stake in shares of ABB in the 2nd quarter worth $258,000. 5.29% of the stock is owned by hedge funds and other institutional investors.
ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. ABB had a return on equity of 19.94% and a net margin of 6.24%. The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same period in the prior year, the company earned $0.30 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that ABB will post 1.38 earnings per share for the current year.
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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