ABB Ltd (OTCMKTS:ABBNY) Stock Now Rated “Hold” by Wall Street Brokerages

ABB Ltd (OTCMKTS:ABBNY) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company.

A number of brokerages have recently issued reports on ABBNY. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of ABB in a research note on Tuesday, July 21st. Erste Group Bank lowered ABB from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of ABB in a report on Tuesday, September 22nd. Zacks Research upgraded ABB from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. Finally, Pareto Securities raised ABB from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th.

ABB Stock Down 3.5%

Shares of ABBNY opened at $85.45 on Monday. ABB has a 1 year low of $67.24 and a 1 year high of $110.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $94.58 and a two-hundred day simple moving average of $94.86. The firm has a market cap of $155.79 billion, a P/E ratio of 31.96, a P/E/G ratio of 1.09 and a beta of 1.35.

ABB (OTCMKTS:ABBNY) last posted its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.42). ABB had a return on equity of 31.11% and a net margin of 13.55%. The business had revenue of $9.70 billion for the quarter. On average, analysts forecast that ABB will post 3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ABB

An institutional investor recently bought a new position in ABB stock. North Star Asset Management Inc. acquired a new stake in shares of ABB Ltd (OTCMKTS:ABBNY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

About ABB

ABB Ltd. (OTCMKTS:ABBNY) is a Swiss-Swedish technology company that develops products, systems and services for electrification, industrial automation and energy management. Its offerings include electrical distribution equipment, industrial control systems, motors, drives, measurement and analytical instruments, and software designed to improve the efficiency, reliability and sustainability of industrial and commercial operations.

The company also provides robotics and automation solutions for manufacturing, logistics and other industrial applications.