Barclays initiated coverage on shares of ABB (NYSE:ABB) in a research report sent to investors on Monday, BenzingaRatingsTable reports. The brokerage issued an overweight rating on the industrial products company’s stock.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised ABB from a sell rating to a hold rating and set a $21.00 price target for the company in a research note on Thursday, September 12th. JPMorgan Chase & Co. restated a sell rating on shares of ABB in a research note on Tuesday, October 8th. Finally, ValuEngine raised shares of ABB from a sell rating to a hold rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $20.09.
Shares of NYSE ABB opened at $22.54 on Monday. ABB has a 52-week low of $17.71 and a 52-week high of $22.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.36. The business has a fifty day moving average of $21.58 and a two-hundred day moving average of $19.66. The stock has a market cap of $48.03 billion, a PE ratio of 16.95, a PEG ratio of 3.56 and a beta of 1.18.
Several institutional investors have recently made changes to their positions in ABB. Fisher Asset Management LLC increased its stake in shares of ABB by 4.9% during the third quarter. Fisher Asset Management LLC now owns 12,752,587 shares of the industrial products company’s stock worth $250,843,000 after purchasing an additional 598,340 shares in the last quarter. Northern Trust Corp boosted its position in ABB by 0.5% during the 2nd quarter. Northern Trust Corp now owns 6,076,996 shares of the industrial products company’s stock valued at $121,723,000 after acquiring an additional 31,731 shares in the last quarter. Morgan Stanley raised its position in shares of ABB by 23.2% in the 2nd quarter. Morgan Stanley now owns 4,332,576 shares of the industrial products company’s stock worth $86,781,000 after acquiring an additional 816,202 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in ABB by 13.4% in the third quarter. Parametric Portfolio Associates LLC now owns 2,309,454 shares of the industrial products company’s stock worth $45,427,000 after purchasing an additional 272,060 shares in the last quarter. Finally, Nuance Investments LLC raised its holdings in ABB by 55.3% in the second quarter. Nuance Investments LLC now owns 2,088,781 shares of the industrial products company’s stock worth $41,838,000 after purchasing an additional 744,147 shares in the last quarter. Institutional investors and hedge funds own 4.60% of the company’s stock.
ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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