ABB’s (ABB) “Buy” Rating Reiterated at Goldman Sachs Group
ABB has been the topic of several other reports. Zacks Investment Research downgraded shares of ABB from a hold rating to a sell rating in a research note on Tuesday, October 10th. Robert W. Baird reaffirmed a buy rating and set a $29.00 target price on shares of ABB in a research note on Wednesday, October 4th. Jefferies Group set a $20.00 price target on shares of ABB and gave the stock a sell rating in a report on Tuesday, November 28th. Deutsche Bank upgraded shares of ABB from a hold rating to a buy rating in a report on Monday, December 4th. Finally, J P Morgan Chase & Co reiterated a neutral rating on shares of ABB in a report on Friday, November 24th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $26.00.
Shares of ABB (NYSE ABB) opened at $26.10 on Monday. The stock has a market cap of $56,436.89, a P/E ratio of 20.82, a PEG ratio of 3.39 and a beta of 1.05. ABB has a 52 week low of $20.80 and a 52 week high of $26.48. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.48.
ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue was up 5.7% on a year-over-year basis. sell-side analysts anticipate that ABB will post 1.24 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Bank of Nova Scotia Trust Co. acquired a new position in shares of ABB in the 3rd quarter valued at $113,000. Cubist Systematic Strategies LLC boosted its holdings in shares of ABB by 296.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after buying an additional 3,590 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of ABB in the 2nd quarter valued at $120,000. IFP Advisors Inc boosted its holdings in shares of ABB by 71.0% in the 2nd quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after buying an additional 2,721 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of ABB in the 3rd quarter valued at $184,000. Institutional investors and hedge funds own 4.76% of the company’s stock.
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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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