ABB (NYSE:ABB) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

ABB has been the topic of several other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Monday, July 9th. Zacks Investment Research lowered ABB from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Finally, Jefferies Financial Group upgraded ABB from an “underperform” rating to a “hold” rating and set a $23.00 price target on the stock in a report on Wednesday, July 11th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.

NYSE ABB opened at $23.61 on Wednesday. ABB has a 52 week low of $21.22 and a 52 week high of $28.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.85 and a current ratio of 1.15. The firm has a market cap of $50.90 billion, a PE ratio of 18.89, a P/E/G ratio of 2.52 and a beta of 1.21.

ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, July 19th. The industrial products company reported $0.38 EPS for the quarter, topping the 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 business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts expect that ABB will post 1.38 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of ABB by 6.2% during the 2nd quarter. Fisher Asset Management LLC now owns 10,265,149 shares of the industrial products company’s stock worth $223,472,000 after purchasing an additional 600,743 shares during the last quarter. Bank of America Corp DE increased its position in shares of ABB by 5.3% during the 2nd quarter. Bank of America Corp DE now owns 7,626,928 shares of the industrial products company’s stock worth $166,038,000 after purchasing an additional 383,395 shares during the last quarter. Boston Partners increased its position in shares of ABB by 5.3% during the 2nd quarter. Boston Partners now owns 7,380,465 shares of the industrial products company’s stock worth $160,673,000 after purchasing an additional 370,034 shares during the last quarter. Northern Trust Corp increased its position in shares of ABB by 0.7% during the 1st quarter. Northern Trust Corp now owns 5,737,963 shares of the industrial products company’s stock worth $136,220,000 after purchasing an additional 40,284 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. increased its position in shares of ABB by 0.5% during the 1st quarter. Schafer Cullen Capital Management Inc. now owns 3,837,783 shares of the industrial products company’s stock worth $91,109,000 after purchasing an additional 17,237 shares during the last quarter. Institutional investors and hedge funds own 5.31% of the company’s stock.

About ABB

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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Analyst Recommendations for ABB (NYSE:ABB)

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