ABB’s (ABB) “Buy” Rating Reaffirmed at Goldman Sachs Group

ABB (NYSE:ABB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group in a research report issued to clients and investors on Monday.

ABB has been the subject of several other reports. Zacks Investment Research lowered ABB from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ABB in a report on Wednesday, January 10th. Robert W. Baird reaffirmed a “buy” rating and set a $29.00 target price on shares of ABB in a report on Friday, December 15th. Jefferies Group set a $20.00 target price on ABB and gave the company a “sell” rating in a report on Tuesday, November 28th. Finally, Deutsche Bank raised ABB from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.67.

ABB (NYSE:ABB) opened at $28.01 on Monday. The company has a market capitalization of $60,729.82, a P/E ratio of 25.94, a PEG ratio of 2.91 and a beta of 1.06. ABB has a fifty-two week low of $22.04 and a fifty-two week high of $28.26. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

ABB (NYSE:ABB) last posted its earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.55 billion. ABB had a return on equity of 18.65% and a net margin of 6.79%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. sell-side analysts predict that ABB will post 1.22 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of ABB. Royal Bank of Canada boosted its stake in ABB by 58.4% during the 2nd quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock valued at $51,278,000 after purchasing an additional 759,112 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in ABB by 14.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after purchasing an additional 432,665 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in ABB by 512.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 508,400 shares of the industrial products company’s stock valued at $12,583,000 after purchasing an additional 425,400 shares in the last quarter. Fisher Asset Management LLC boosted its stake in ABB by 4.5% during the 3rd quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock valued at $214,301,000 after purchasing an additional 376,777 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in ABB during the 3rd quarter valued at $5,507,000. 4.73% of the stock is owned by institutional investors and hedge funds.

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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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