ABB’s (NYSE:ABB) “Buy” Rating Reaffirmed at Goldman Sachs Group, Inc. (The)

ABB Ltd (NYSE:ABB)‘s stock had its “buy” rating reaffirmed by equities researchers at Goldman Sachs Group, Inc. (The) in a report released on Monday, November 6th.

Several other research analysts also recently commented on the stock. Morgan Stanley downgraded shares of ABB from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 21st. UBS AG reiterated a “sell” rating on shares of ABB in a report on Monday, July 24th. Robert W. Baird set a $28.00 price target on shares of ABB and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, BidaskClub cut shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.50.

ABB (ABB) traded up $0.17 during mid-day trading on Monday, hitting $25.55. 1,408,020 shares of the company’s stock traded hands, compared to its average volume of 1,910,952. 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 52-week low of $20.26 and a 52-week high of $26.48. The stock has a market capitalization of $55,520.00, a P/E ratio of 20.18, a PEG ratio of 3.32 and a beta of 1.07.

ABB (NYSE:ABB) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The company 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 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. equities analysts forecast that ABB will post 1.23 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of ABB. Fisher Asset Management LLC raised its position in ABB by 1,084.0% in the 2nd quarter. Fisher Asset Management LLC now owns 8,281,858 shares of the industrial products company’s stock worth $206,218,000 after buying an additional 7,582,360 shares during the last quarter. First Trust Advisors LP raised its position in ABB by 6,598.1% in the 2nd quarter. First Trust Advisors LP now owns 849,384 shares of the industrial products company’s stock worth $21,150,000 after buying an additional 836,703 shares during the last quarter. Folketrygdfondet raised its position in ABB by 41.0% in the 2nd quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock worth $69,403,000 after buying an additional 810,000 shares during the last quarter. Royal Bank of Canada raised its position in ABB by 58.4% in the 2nd quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock worth $51,278,000 after buying an additional 759,112 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. raised its position in ABB by 999.5% in the 2nd quarter. Bowen Hanes & Co. Inc. now owns 786,265 shares of the industrial products company’s stock worth $19,578,000 after buying an additional 714,755 shares during the last quarter. 4.63% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for ABB (NYSE:ABB)

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