ABB Ltd (ABB) Given Sell Rating at UBS AG
ABB Ltd (NYSE:ABB)‘s stock had its “sell” rating reaffirmed by investment analysts at UBS AG in a report released on Monday, www.boersen-zeitung.de reports.
Several other research analysts have also recently issued reports on ABB. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BNP Paribas cut ABB from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Morgan Stanley cut ABB from an “overweight” rating to an “equal weight” rating in a report on Friday. Robert W. Baird reaffirmed an “outperform” rating and issued a $28.00 price target (up previously from $27.00) on shares of ABB in a report on Friday, June 16th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $18.00 price target on shares of ABB in a report on Tuesday, April 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.25.
ABB (ABB) traded down 1.34% during midday trading on Monday, hitting $23.48. The company had a trading volume of 975,174 shares. ABB has a 12-month low of $20.26 and a 12-month high of $25.83. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 22.62 and a beta of 1.08. The company’s 50 day moving average is $25.14 and its 200 day moving average is $23.81.
ABB (NYSE:ABB) last announced its earnings results on Thursday, July 20th. The industrial products company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. ABB had a return on equity of 18.62% and a net margin of 6.87%. The firm had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the firm earned $0.35 EPS. ABB’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that ABB will post $1.22 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in ABB by 93.8% in the first quarter. Wellington Management Group LLP now owns 20,250,046 shares of the industrial products company’s stock valued at $473,851,000 after buying an additional 9,801,313 shares during the last quarter. Fisher Asset Management LLC boosted its position in ABB by 1,084.0% in the second quarter. Fisher Asset Management LLC now owns 8,281,858 shares of the industrial products company’s stock valued at $206,218,000 after buying an additional 7,582,360 shares during the last quarter. Baird Financial Group Inc. boosted its position in ABB by 297.2% in the first quarter. Baird Financial Group Inc. now owns 1,566,385 shares of the industrial products company’s stock valued at $36,653,000 after buying an additional 1,172,057 shares during the last quarter. Karp Capital Management Corp purchased a new position in ABB during the first quarter valued at $18,637,000. Finally, Folketrygdfondet boosted its position in ABB by 54.3% in the first quarter. Folketrygdfondet now owns 1,977,278 shares of the industrial products company’s stock valued at $46,268,000 after buying an additional 695,986 shares during the last quarter. Hedge funds and other institutional investors own 4.05% of the company’s stock.
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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