ABB Ltd. (ABB) Hits New 12-Month High at $22.16
ABB Ltd. (NYSE:ABB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.16 and last traded at $22.14, with a volume of 717,149 shares traded. The stock had previously closed at $22.07.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research raised ABB from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ABB in a report on Monday, June 13th. Robert W. Baird lifted their price target on ABB from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, April 21st. Deutsche Bank AG upgraded ABB from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Societe Generale upgraded ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. Five research analysts have rated the stock with a sell rating, nine have issued 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 target price of $22.25.
The stock has a market cap of $47.10 billion and a PE ratio of 28.722. The company’s 50-day moving average price is $20.42 and its 200 day moving average price is $19.67.
ABB (NYSE:ABB) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.09. During the same quarter in the previous year, the business posted $0.33 earnings per share. The firm earned $8.68 billion during the quarter, compared to the consensus estimate of $8.83 billion. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Analysts forecast that ABB Ltd. will post $1.08 EPS for the current fiscal year.
A hedge fund recently raised its stake in ABB stock. Morgan Stanley increased its position in shares of ABB Ltd. (NYSE:ABB) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,127,168 shares of the company’s stock after buying an additional 94,045 shares during the period. Morgan Stanley owned approximately 0.05% of ABB worth $19,984,000 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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