Robert W. Baird Boosts ABB Ltd. (ABB) Price Target to $24.00
ABB has been the subject of a number of other research reports. Zacks Investment Research raised ABB from a hold rating to a buy rating and set a $25.00 price objective for the company in a research report on Tuesday, September 20th. HSBC cut ABB from a buy rating to a hold rating in a research report on Friday, August 19th. Deutsche Bank AG raised ABB from a sell rating to a hold rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. reissued a neutral rating on shares of ABB in a research report on Monday, June 13th. Finally, BNP Paribas raised ABB from an underperform rating to an outperform rating in a research report on Thursday, September 1st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $23.75.
Shares of ABB (NYSE:ABB) opened at 22.78 on Wednesday. The firm’s 50-day moving average price is $22.32 and its 200-day moving average price is $20.96. ABB has a 52 week low of $15.74 and a 52 week high of $22.92. The firm has a market cap of $48.45 billion, a price-to-earnings ratio of 29.55 and a beta of 1.20.
ABB (NYSE:ABB) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.09. ABB had a return on equity of 16.86% and a net margin of 4.91%. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. ABB’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts expect that ABB will post $1.08 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in ABB during the second quarter worth approximately $29,969,000. Quadrature Capital Ltd acquired a new position in ABB during the second quarter worth approximately $9,213,000. Wellington Management Group LLP raised its position in ABB by 3.6% in the first quarter. Wellington Management Group LLP now owns 11,362,353 shares of the company’s stock worth $220,657,000 after buying an additional 390,035 shares during the last quarter. UBS Group AG raised its position in ABB by 47.5% in the first quarter. UBS Group AG now owns 856,662 shares of the company’s stock worth $16,636,000 after buying an additional 275,986 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. raised its position in ABB by 7.3% in the second quarter. Schafer Cullen Capital Management Inc. now owns 3,697,586 shares of the company’s stock worth $73,323,000 after buying an additional 251,597 shares during the last quarter. Institutional investors and hedge funds 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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