UBS Group reaffirmed their hold rating on shares of ABB (NYSE:ABB) in a report released on Thursday morning, www.tipranks.com reports.
ABB has been the subject of a number of other research reports. TheStreet downgraded shares of ABB from a b rating to a c+ rating in a research note on Thursday, November 8th. Zacks Investment Research downgraded shares of ABB from a buy rating to a hold rating in a research note on Monday, October 1st. ValuEngine upgraded shares of ABB from a sell rating to a hold rating in a research note on Wednesday, August 29th. JPMorgan Chase & Co. reiterated a hold rating on shares of ABB in a research note on Thursday, October 18th. Finally, Berenberg Bank reiterated a hold rating on shares of ABB in a research note on Monday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $24.34.
ABB stock opened at $19.40 on Thursday. ABB has a twelve month low of $18.74 and a twelve month high of $28.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.18. The firm has a market cap of $41.49 billion, a PE ratio of 15.52, a P/E/G ratio of 2.03 and a beta of 1.27.
Hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc acquired a new position in shares of ABB during the third quarter worth $100,000. Belpointe Asset Management LLC acquired a new position in ABB in the third quarter valued at $132,000. Covington Capital Management boosted its stake in ABB by 231.9% in the third quarter. Covington Capital Management now owns 5,725 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 4,000 shares in the last quarter. Ballentine Partners LLC acquired a new position in ABB in the third quarter valued at $206,000. Finally, Ingalls & Snyder LLC acquired a new position in ABB in the third quarter valued at $209,000. Hedge funds and other institutional investors own 4.87% of the company’s stock.
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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