ABB (ABB) Earns Hold Rating from Morgan Stanley

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ABB (NYSE:ABB)‘s stock had its “hold” rating reaffirmed by research analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a research note on Thursday, August 23rd. ValuEngine upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. DNB Markets assumed coverage on shares of ABB in a research note on Monday, September 3rd. They issued a “buy” rating for the company. Citigroup upgraded shares of ABB from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Societe Generale upgraded shares of ABB from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.34.

Shares of NYSE ABB opened at $19.22 on Wednesday. The company has a market capitalization of $42.04 billion, a PE ratio of 15.38, a PEG ratio of 2.06 and a beta of 1.27. ABB has a 52-week low of $18.94 and a 52-week high of $28.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.18.

ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The firm had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.46 billion. ABB had a return on equity of 19.99% and a net margin of 6.24%. On average, equities research analysts expect that ABB will post 1.39 EPS for the current year.

A number of hedge funds have recently made changes to their positions in ABB. Baird Financial Group Inc. bought a new stake in ABB during the 3rd quarter valued at $62,258,000. JPMorgan Chase & Co. increased its stake in ABB by 296.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,230,680 shares of the industrial products company’s stock valued at $29,081,000 after purchasing an additional 920,247 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ABB by 2,682.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 773,750 shares of the industrial products company’s stock valued at $18,284,000 after purchasing an additional 745,943 shares in the last quarter. Jane Street Group LLC increased its stake in ABB by 3,382.5% during the 3rd quarter. Jane Street Group LLC now owns 626,848 shares of the industrial products company’s stock valued at $14,812,000 after purchasing an additional 608,848 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in ABB by 14,142.2% during the 3rd quarter. Clearbridge Investments LLC now owns 591,050 shares of the industrial products company’s stock valued at $13,967,000 after purchasing an additional 586,900 shares in the last quarter. Institutional investors and hedge funds own 4.87% of the company’s stock.

About ABB

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Analyst Recommendations for ABB (NYSE:ABB)

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