ABB (NYSE:ABB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $29.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.41% from the stock’s current price.
According to Zacks, “ABB’s shares have outperformed the industry’s average return over the past year, and the company also boasts an excellent earnings surprise history over the trailing four quarters. ABB’s operations continue to benefit from power infrastructure investments and strategic restructuring plans. Strong order growth, particularly in Robotics and Motion segment, bode well for the coming quarters. The third stage of ABB’s revamped “Next Level Strategy” will help unlock ABB’s full digital potential, increasing momentum in operational excellence and boosting the company’s brand. We are highly optimistic about ABB’s recent acquisition of GE Industrial Solutions, which will fortify its global foothold in electrification, and expand its access to the North American market. However, volatility in oil & gas markets and uncertainty in the process industries remain major headwinds for the company. “
A number of other equities analysts have also weighed in on ABB. Deutsche Bank upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Goldman Sachs Group reiterated a “buy” rating on shares of ABB in a research report on Monday, November 6th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of ABB in a research report on Friday, November 24th. Robert W. Baird set a $28.00 price target on shares of ABB and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Jefferies Group set a $20.00 price target on shares of ABB and gave the stock a “sell” rating in a research report on Tuesday, November 28th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.00.
Shares of ABB (ABB) opened at $26.03 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $56,371.85, a P/E ratio of 20.80, a P/E/G ratio of 3.38 and a beta of 1.05. ABB has a 12-month low of $20.80 and a 12-month high of $26.48.
ABB (NYSE:ABB) last announced its earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.65%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. equities analysts predict that ABB will post 1.24 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC boosted its position in shares of ABB by 4.5% during the third quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock worth $214,301,000 after acquiring an additional 376,777 shares during the last quarter. Northern Trust Corp boosted its position in shares of ABB by 1.3% during the second quarter. Northern Trust Corp now owns 4,514,363 shares of the industrial products company’s stock worth $112,408,000 after acquiring an additional 59,101 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of ABB by 1.1% during the third quarter. Macquarie Group Ltd. now owns 3,877,508 shares of the industrial products company’s stock worth $95,968,000 after acquiring an additional 40,514 shares during the last quarter. Schafer Cullen Capital Management Inc. boosted its position in shares of ABB by 2.0% during the second quarter. Schafer Cullen Capital Management Inc. now owns 3,686,628 shares of the industrial products company’s stock worth $91,797,000 after acquiring an additional 73,112 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of ABB by 14.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock worth $86,119,000 after acquiring an additional 432,665 shares during the last quarter. Institutional investors and hedge funds own 4.76% of the company’s stock.
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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