ABB Ltd. (ABB) PT Set at $23.00 by Bank of America Corp.
ABB Ltd. (NYSE:ABB) has been given a $23.00 price target by investment analysts at Bank of America Corp. in a note issued to investors on Tuesday. The brokerage currently has a a “hold” rating on the stock. Bank of America Corp.’s price objective suggests a potential upside of 1.05% from the stock’s current price.
A number of other equities analysts have also recently issued reports on ABB. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ABB in a research note on Monday, June 13th. Deutsche Bank AG raised shares of ABB from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Robert W. Baird lifted their price target on shares of ABB from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup Inc. reissued a “sell” rating on shares of ABB in a research report on Wednesday. Finally, Zacks Investment Research cut shares of ABB from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.76 on Tuesday. The company has a market capitalization of $48.41 billion, a PE ratio of 29.52 and a beta of 1.20. The company has a 50-day moving average of $22.26 and a 200-day moving average of $20.87. ABB has a one year low of $15.74 and a one year high of $22.88.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. ABB had a net margin of 4.91% and a return on equity of 16.86%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts anticipate that ABB will post $1.08 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Grandfield & Dodd LLC raised its stake in shares of ABB by 3.1% in the second quarter. Grandfield & Dodd LLC now owns 606,866 shares of the company’s stock valued at $12,034,000 after buying an additional 18,523 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock valued at $220,657,000 after buying an additional 390,035 shares during the last quarter. Trillium Asset Management LLC raised its stake in shares of ABB by 0.3% in the second quarter. Trillium Asset Management LLC now owns 722,362 shares of the company’s stock valued at $14,324,000 after buying an additional 2,234 shares during the last quarter. Conning Inc. acquired a new stake in shares of ABB during the second quarter valued at about $3,514,000. Finally, JPMorgan Chase & Co. raised its stake in shares of ABB by 9.8% in the second quarter. JPMorgan Chase & Co. now owns 2,513,049 shares of the company’s stock valued at $49,833,000 after buying an additional 224,114 shares during the last quarter. Hedge funds and other institutional investors own 3.27% of the company’s stock.
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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