ABB Ltd. (ABB) Shares Gap Up to $21.07
ABB Ltd. (NYSE:ABB) gapped up before the market opened on Friday . The stock had previously closed at $21.03, but opened at $21.07. ABB shares last traded at $21.22, with a volume of 1,267,492 shares.
Several brokerages recently weighed in on ABB. Societe Generale raised shares of ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Zacks Investment Research upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Robert W. Baird boosted their price target on shares of ABB from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, April 21st. Finally, Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $22.25.
The stock’s 50-day moving average is $20.21 and its 200 day moving average is $19.33. The company has a market capitalization of $45.20 billion and a price-to-earnings ratio of 27.56.
ABB (NYSE:ABB) last released its earnings results on Thursday, July 21st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.09. The company earned $8.68 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the business posted $0.33 earnings per share. ABB’s revenue was down 5.3% on a year-over-year basis. On average, equities analysts expect that ABB Ltd. will post $1.08 earnings per share for the current year.
Several large investors recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in ABB by 9.1% in the fourth quarter. Morgan Stanley now owns 1,127,168 shares of the company’s stock valued at $19,984,000 after buying an additional 94,045 shares in the last quarter. Manitou Investment Management Ltd. boosted its stake in ABB by 2.8% in the fourth quarter. Manitou Investment Management Ltd. now owns 701,570 shares of the company’s stock valued at $12,439,000 after buying an additional 19,330 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its stake in ABB by 12.7% in the fourth quarter. Atlantic Trust Group LLC now owns 79,795 shares of the company’s stock valued at $1,414,000 after buying an additional 9,015 shares in the last 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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