ABB Ltd (ABB) Shares Gap Up to $21.56
ABB Ltd (NYSE:ABB)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $21.36, but opened at $21.56. ABB shares last traded at $21.89, with a volume of 1,418,035 shares changing hands.
Several brokerages have commented on ABB. Robert W. Baird raised their price objective on ABB from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, April 21st. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Monday, June 13th. Deutsche Bank AG raised ABB from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, TheStreet raised ABB from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. ABB has an average rating of “Hold” and an average price target of $22.25.
The firm has a market capitalization of $46.50 billion and a P/E ratio of 28.35. The company has a 50 day moving average of $20.38 and a 200-day moving average of $19.61.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.09. During the same period last year, the company earned $0.33 EPS. The business earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. The business’s revenue was down 5.3% compared to the same quarter last year. Analysts predict that ABB Ltd will post $1.08 earnings per share for the current fiscal year.
An institutional investor recently raised its position in ABB stock. Atlantic Trust Group LLC boosted its position in ABB Ltd (NYSE:ABB) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 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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