ABB Ltd. (NYSE:ABB)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $21.95, but opened at $22.06. ABB shares last traded at $22.26, with a volume of 734,315 shares trading hands.

ABB has been the subject of a number of research reports. HSBC lowered ABB from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. restated a “neutral” rating on shares of ABB in a research report on Monday, June 13th. Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, TheStreet upgraded ABB from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.25.

The firm’s 50-day moving average price is $20.79 and its 200 day moving average price is $19.85. The company has a market cap of $46.92 billion and a price-to-earnings ratio of 28.61.

ABB (NYSE:ABB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.09. The business earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. On average, analysts predict that ABB Ltd. will post $1.08 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in ABB stock. Morgan Stanley increased its position in ABB Ltd. (NYSE:ABB) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,127,168 shares of the company’s stock after buying an additional 94,045 shares during the period. Morgan Stanley owned 0.05% of ABB worth $19,984,000 at the end of the most recent quarter.

ABB Ltd (ABB) is engaged in power and automation technologies. The Company manages its business based on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.

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