ABB Ltd (NYSE:ABB) has been given a consensus rating of “Hold” by the thirteen research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.50.
Several research firms have recently weighed in on ABB. Robert W. Baird reduced their price objective on ABB from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Goldman Sachs Group reissued a “buy” rating on shares of ABB in a research report on Monday, January 22nd. Zacks Investment Research cut ABB from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Berenberg Bank raised ABB from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Wednesday, January 10th.
Shares of ABB (NYSE:ABB) opened at $24.36 on Wednesday. ABB has a 12-month low of $22.04 and a 12-month high of $28.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.35 and a quick ratio of 1.04. The firm has a market capitalization of $52,540.00, a P/E ratio of 23.65, a PEG ratio of 2.56 and a beta of 1.06.
A number of hedge funds have recently modified their holdings of ABB. Boston Partners bought a new position in ABB in the fourth quarter worth $85,209,000. Baird Financial Group Inc. lifted its position in ABB by 53.6% in the fourth quarter. Baird Financial Group Inc. now owns 2,776,457 shares of the industrial products company’s stock worth $74,465,000 after purchasing an additional 968,442 shares during the period. Bowen Hanes & Co. Inc. lifted its position in ABB by 599.8% in the fourth quarter. Bowen Hanes & Co. Inc. now owns 735,865 shares of the industrial products company’s stock worth $19,736,000 after purchasing an additional 630,705 shares during the period. Fisher Asset Management LLC lifted its position in ABB by 5.9% in the fourth quarter. Fisher Asset Management LLC now owns 9,173,754 shares of the industrial products company’s stock worth $246,040,000 after purchasing an additional 515,119 shares during the period. Finally, Lazard Asset Management LLC bought a new position in ABB in the fourth quarter worth $12,037,000. 4.89% 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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