ABB (OTCMKTS:ABBNY) Sees Strong Trading Volume – Time to Buy?

Shares of ABB Ltd (OTCMKTS:ABBNY) saw strong trading volume on Thursday. Approximately 589,391 shares changed hands during trading, an increase of 84% from the average daily volume of 319,510 shares. The stock last traded at $83.3332 and had previously closed at $86.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABBNY. Erste Group Bank cut ABB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Pareto Securities upgraded ABB from a “hold” rating to a “buy” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of ABB in a research report on Tuesday, September 22nd. Royal Bank Of Canada restated a “sector perform” rating on shares of ABB in a report on Tuesday, July 21st. Finally, Zacks Research raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

ABB Trading Down 5.5%

The stock has a market cap of $149.22 billion, a P/E ratio of 29.66, a P/E/G ratio of 1.08 and a beta of 1.42. The firm’s 50 day moving average price is $93.86 and its 200-day moving average price is $95.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 1.08.

ABB (OTCMKTS:ABBNY) last posted its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.42). ABB had a return on equity of 31.11% and a net margin of 13.55%. The business had revenue of $9.70 billion during the quarter. As a group, equities research analysts forecast that ABB Ltd will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in ABB stock. North Star Asset Management Inc. bought a new stake in shares of ABB Ltd (OTCMKTS:ABBNY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

ABB Company Profile

ABB Ltd. (OTCMKTS:ABBNY) is a Swiss-Swedish technology company that develops products, systems and services for electrification, industrial automation and energy management. Its offerings include electrical distribution equipment, industrial control systems, motors, drives, measurement and analytical instruments, and software designed to improve the efficiency, reliability and sustainability of industrial and commercial operations.

The company also provides robotics and automation solutions for manufacturing, logistics and other industrial applications.