Shares of ABB Ltd (NYSE:ABB) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.50.

ABB has been the subject of a number of recent analyst reports. BidaskClub lowered ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Morgan Stanley reissued a “buy” rating on shares of ABB in a report on Thursday, June 22nd. Robert W. Baird reissued a “buy” rating and issued a $29.00 price objective on shares of ABB in a report on Wednesday, October 4th. Zacks Investment Research lowered ABB from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, UBS AG reissued a “sell” rating on shares of ABB in a report on Monday, July 24th.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in ABB by 5.5% in the second quarter. Bank of Montreal Can now owns 47,187 shares of the industrial products company’s stock worth $1,174,000 after purchasing an additional 2,447 shares during the period. Pinnacle Associates Ltd. lifted its position in ABB by 12.8% in the second quarter. Pinnacle Associates Ltd. now owns 73,888 shares of the industrial products company’s stock worth $1,840,000 after purchasing an additional 8,406 shares during the period. Aperio Group LLC lifted its position in ABB by 4.8% in the second quarter. Aperio Group LLC now owns 834,910 shares of the industrial products company’s stock worth $20,789,000 after purchasing an additional 38,467 shares during the period. Airain ltd lifted its position in ABB by 33.2% in the second quarter. Airain ltd now owns 51,797 shares of the industrial products company’s stock worth $1,290,000 after purchasing an additional 12,904 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in ABB in the second quarter worth approximately $434,000. Hedge funds and other institutional investors own 4.42% of the company’s stock.

Shares of ABB (ABB) opened at 25.17 on Thursday. The stock has a 50 day moving average price of $24.25 and a 200 day moving average price of $24.24. ABB has a 12-month low of $20.26 and a 12-month high of $25.83. The firm has a market capitalization of $53.71 billion, a PE ratio of 24.25 and a beta of 1.06.

ABB (NYSE:ABB) last posted 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 net margin of 6.87% and a return on equity of 18.62%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period last year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that ABB will post $1.22 EPS for the current fiscal year.

About ABB

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.

Analyst Recommendations for ABB (NYSE:ABB)

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