ABB Ltd. (ABB) Shares Gap Up to $21.00
ABB Ltd. (NYSE:ABB) shares gapped up prior to trading on Thursday . The stock had previously closed at $20.88, but opened at $21.00. ABB shares last traded at $21.26, with a volume of 637,709 shares changing hands.
Several research analysts have issued reports on ABB shares. Citigroup Inc. restated a “sell” rating on shares of ABB in a report on Thursday, April 21st. TheStreet upgraded shares of ABB from a “hold” rating to a “buy” rating in a report on Friday, April 22nd. Zacks Investment Research lowered shares of ABB from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Deutsche Bank AG upgraded shares of ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, JPMorgan Chase & Co. upgraded shares of ABB from an “underweight” rating to a “neutral” rating in a report on Wednesday, April 20th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. ABB has a consensus rating of “Hold” and a consensus price target of $22.25.
The stock’s 50 day moving average is $20.33 and its 200-day moving average is $19.47. The firm has a market capitalization of $45.31 billion and a price-to-earnings ratio of 27.63.
ABB (NYSE:ABB) last released its quarterly earnings data 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. During the same period last year, the company posted $0.33 EPS. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.83 billion. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts forecast that ABB Ltd. will post $1.08 earnings per share for the current year.
An institutional investor recently raised its position in ABB stock. Atlantic Trust Group LLC increased its position in shares of ABB Ltd. (NYSE:ABB) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,795 shares of the company’s stock after buying an additional 9,015 shares during the period. Atlantic Trust Group LLC’s holdings in ABB were worth $1,414,000 at the end of the most recent reporting period.
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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