ABB (OTCMKTS:ABBNY) Downgraded to Hold Rating by Erste Group Bank

Erste Group Bank downgraded shares of ABB (OTCMKTS:ABBNY) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

Several other analysts have also recently commented on ABBNY. Wall Street Zen cut shares of ABB from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup reiterated a “neutral” rating on shares of ABB in a research note on Thursday, June 18th. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Dnb Carnegie upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, TD Cowen reaffirmed a “hold” rating on shares of ABB in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ABB currently has a consensus rating of “Hold” and a consensus target price of $58.00.

ABB Stock Down 0.3%

Shares of ABB stock opened at $98.46 on Thursday. The stock has a 50-day moving average price of $101.38 and a 200 day moving average price of $97.05. The company has a market cap of $179.51 billion, a P/E ratio of 35.55, a P/E/G ratio of 1.46 and a beta of 1.36. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. ABB has a 1 year low of $65.42 and a 1 year high of $110.20.

ABB (OTCMKTS:ABBNY) last released its earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.13). The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.34 billion. ABB had a net margin of 13.86% and a return on equity of 31.25%. As a group, analysts expect that ABB will post 3.78 EPS for the current fiscal year.

Institutional Investors Weigh In On ABB

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

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.