ABB Ltd (NYSE:ABB) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Friday, The Fly reports.

A number of other brokerages have also commented on ABB. UBS AG lowered shares of ABB from a “neutral” rating to a “sell” rating in a report on Tuesday, April 11th. Jefferies Group LLC reissued a “sell” rating and issued a $18.00 price target on shares of ABB in a report on Tuesday, April 4th. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Citigroup Inc. reissued a “sell” rating on shares of ABB in a report on Friday, June 9th. Finally, BNP Paribas lowered shares of ABB from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.25.

Shares of ABB (ABB) traded down 2.54% on Friday, reaching $23.77. 4,057,736 shares of the company were exchanged. The firm has a 50 day moving average price of $25.14 and a 200-day moving average price of $23.81. ABB has a 12-month low of $20.26 and a 12-month high of $25.83. The stock has a market capitalization of $50.96 billion, a PE ratio of 24.08 and a beta of 1.08.

ABB (NYSE:ABB) last posted its earnings results on Thursday, July 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. ABB had a return on equity of 18.92% and a net margin of 6.47%. The firm had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, analysts predict that ABB will post $1.24 EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Round Table Services LLC bought a new stake in ABB during the first quarter valued at approximately $236,000. Greylin Investment Mangement Inc. acquired a new position in shares of ABB during the first quarter worth about $459,000. Bank of The West acquired a new position in shares of ABB during the first quarter worth about $444,000. Portland Global Advisors LLC boosted its position in shares of ABB by 0.3% in the first quarter. Portland Global Advisors LLC now owns 79,915 shares of the industrial products company’s stock worth $1,870,000 after buying an additional 235 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of ABB during the first quarter worth about $260,000. 3.62% of the stock is owned by hedge funds and other institutional investors.

ABB Company Profile

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.

The Fly

Analyst Recommendations for ABB (NYSE:ABB)

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