ABB Ltd (ABB) Stock Rating Reaffirmed by Morgan Stanley
ABB Ltd (NYSE:ABB)‘s stock had its “buy” rating reiterated by stock analysts at Morgan Stanley in a report issued on Thursday.
ABB has been the topic of a number of other research reports. Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank AG reiterated a “neutral” rating on shares of ABB in a research note on Tuesday, March 21st. Robert W. Baird reiterated an “outperform” rating and issued a $28.00 price target (up previously from $27.00) on shares of ABB in a research note on Friday, June 16th. BNP Paribas cut shares of ABB from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Finally, Citigroup Inc. reiterated a “sell” rating on shares of ABB in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. ABB currently has an average rating of “Hold” and an average target price of $24.25.
Shares of ABB (NYSE:ABB) traded up 0.08% on Thursday, reaching $25.21. 947,582 shares of the company traded hands. The stock’s 50 day moving average price is $25.04 and its 200-day moving average price is $23.24. ABB has a one year low of $18.72 and a one year high of $25.83. The stock has a market capitalization of $54.04 billion, a P/E ratio of 25.54 and a beta of 1.07.
ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.77 billion. ABB had a net margin of 6.47% and a return on equity of 18.92%. ABB’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Equities analysts forecast that ABB will post $1.23 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in ABB. Causeway Capital Management LLC raised its stake in ABB by 4.2% in the first quarter. Causeway Capital Management LLC now owns 1,224,632 shares of the industrial products company’s stock valued at $28,656,000 after buying an additional 48,997 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its stake in ABB by 1.7% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 42,862 shares of the industrial products company’s stock valued at $1,003,000 after buying an additional 700 shares during the last quarter. First City Capital Management Inc. acquired a new stake in ABB during the first quarter valued at approximately $532,000. Summit Global Investments acquired a new stake in ABB during the first quarter valued at approximately $528,000. Finally, FNY Partners Fund LP acquired a new stake in ABB during the first quarter valued at approximately $936,000. 3.61% of the stock is owned by hedge funds and other institutional investors.
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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