Analysts Set ABB Ltd (NYSE:ABB) Price Target at $33.03

ABB Ltd (NYSE:ABBGet Rating) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $32.24.

A number of analysts recently weighed in on ABB shares. Bank of America lowered shares of ABB from a “buy” rating to a “neutral” rating in a report on Wednesday, July 6th. UBS Group decreased their target price on shares of ABB from CHF 37 to CHF 35 in a report on Friday, July 22nd. Morgan Stanley increased their price target on shares of ABB from CHF 27 to CHF 27.20 in a report on Tuesday, July 5th. StockNews.com lowered shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Monday, September 5th. Finally, Stifel Nicolaus initiated coverage on shares of ABB in a report on Thursday, June 30th. They issued a “buy” rating on the stock.

ABB Stock Performance

NYSE ABB opened at $26.12 on Friday. The company’s 50 day moving average is $28.63 and its 200-day moving average is $29.67. ABB has a 12-month low of $25.80 and a 12-month high of $39.11. The company has a quick ratio of 0.73, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm has a market cap of $51.32 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11.

ABB (NYSE:ABBGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.10). The business had revenue of $7.25 billion during the quarter, compared to the consensus estimate of $7.86 billion. ABB had a net margin of 14.87% and a return on equity of 17.32%. Sell-side analysts predict that ABB will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On ABB

Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in shares of ABB by 6.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 685,462 shares of the industrial products company’s stock valued at $22,168,000 after purchasing an additional 38,869 shares in the last quarter. Personal CFO Solutions LLC boosted its position in ABB by 4.3% during the 1st quarter. Personal CFO Solutions LLC now owns 9,198 shares of the industrial products company’s stock valued at $297,000 after buying an additional 376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in ABB by 131.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 102,721 shares of the industrial products company’s stock valued at $3,322,000 after buying an additional 58,345 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new stake in ABB during the 1st quarter valued at $22,145,000. Finally, Fiduciary Trust Co. boosted its position in ABB by 8.4% during the 1st quarter. Fiduciary Trust Co. now owns 6,808 shares of the industrial products company’s stock valued at $221,000 after buying an additional 530 shares during the period. Hedge funds and other institutional investors own 5.41% of the company’s stock.

ABB Company Profile

(Get Rating)

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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Analyst Recommendations for ABB (NYSE:ABB)

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