ABB Ltd. (ABB) PT Raised to $24.00 at Robert W. Baird
ABB Ltd. (NYSE:ABB) had its price target increased by stock analysts at Robert W. Baird from $21.00 to $24.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 5.63% from the stock’s current price.
Several other brokerages have also issued reports on ABB. BNP Paribas upgraded shares of ABB from an “underperform” rating to an “outperform” rating in a research report on Thursday, September 1st. HSBC lowered shares of ABB from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Citigroup Inc. restated a “sell” rating on shares of ABB in a report on Wednesday. Finally, Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $23.75.
Shares of ABB (NYSE:ABB) traded down 0.70% on Wednesday, reaching $22.72. 1,784,117 shares of the company traded hands. ABB has a one year low of $15.74 and a one year high of $22.92. The stock’s 50 day moving average price is $22.30 and its 200-day moving average price is $20.91. The stock has a market capitalization of $48.33 billion, a P/E ratio of 29.47 and a beta of 1.20.
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ABB (NYSE:ABB) last announced its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The business earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the business posted $0.33 earnings per share. ABB’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts forecast that ABB will post $1.08 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Grandfield & Dodd LLC increased its stake in ABB by 3.1% in the second quarter. Grandfield & Dodd LLC now owns 606,866 shares of the company’s stock worth $12,034,000 after buying an additional 18,523 shares in the last quarter. Wellington Management Group LLP increased its stake in ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock worth $220,657,000 after buying an additional 390,035 shares in the last quarter. Trillium Asset Management LLC increased its stake in ABB by 0.3% in the second quarter. Trillium Asset Management LLC now owns 722,362 shares of the company’s stock worth $14,324,000 after buying an additional 2,234 shares in the last quarter. Conning Inc. acquired a new stake in ABB during the second quarter worth $3,514,000. Finally, JPMorgan Chase & Co. increased its stake in ABB by 9.8% in the second quarter. JPMorgan Chase & Co. now owns 2,513,049 shares of the company’s stock worth $49,833,000 after buying an additional 224,114 shares in the last quarter. 3.27% of the stock is currently owned by institutional investors and hedge funds.
ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.
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