ABB Ltd (ABB) Given Average Recommendation of “Hold” by Analysts

Shares of ABB Ltd (NYSE:ABB) have received a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $17.00.

Several brokerages have commented on ABB. Jefferies Financial Group reissued a “hold” rating on shares of ABB in a report on Monday, December 17th. JPMorgan Chase & Co. reissued a “sell” rating on shares of ABB in a report on Monday, December 17th. Bank of America raised shares of ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Zacks Investment Research downgraded shares of ABB from a “hold” rating to a “strong sell” rating in a report on Thursday, January 10th. Finally, Vertical Research downgraded shares of ABB from a “hold” rating to a “sell” rating and set a $17.00 price target for the company. in a report on Thursday, January 10th.

ABB traded up $0.08 on Monday, hitting $19.80. The company’s stock had a trading volume of 98,821 shares, compared to its average volume of 1,915,929. The company has a market cap of $42.17 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.83 and a beta of 1.06. ABB has a 12 month low of $18.05 and a 12 month high of $24.72. The company has a current ratio of 1.19, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, February 28th. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $9.43 billion. ABB had a return on equity of 19.81% and a net margin of 6.36%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. Research analysts forecast that ABB will post 1.01 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of ABB by 9.7% during the 3rd quarter. BlackRock Inc. now owns 4,125,709 shares of the industrial products company’s stock valued at $97,491,000 after purchasing an additional 366,275 shares in the last quarter. Ledyard National Bank boosted its stake in shares of ABB by 107.2% during the 1st quarter. Ledyard National Bank now owns 595,165 shares of the industrial products company’s stock valued at $11,231,000 after purchasing an additional 307,877 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ABB by 2,682.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 773,750 shares of the industrial products company’s stock valued at $18,284,000 after purchasing an additional 745,943 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of ABB during the 3rd quarter valued at about $299,000. Finally, LPL Financial LLC boosted its stake in shares of ABB by 6.1% during the 3rd quarter. LPL Financial LLC now owns 68,853 shares of the industrial products company’s stock valued at $1,627,000 after purchasing an additional 3,969 shares in the last quarter. Hedge funds and other institutional investors own 4.34% 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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