Berenberg Bank upgraded shares of ABB (NYSE:ABB) from a sell rating to a hold rating in a research note published on Wednesday morning, Marketbeat Ratings reports.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird reissued a buy rating and set a $29.00 target price on shares of ABB in a research note on Friday, December 15th. Zacks Investment Research raised shares of ABB from a hold rating to a buy rating and set a $29.00 target price for the company in a research note on Wednesday, December 13th. Goldman Sachs Group reissued a buy rating on shares of ABB in a research note on Monday, December 11th. Deutsche Bank raised shares of ABB from a hold rating to a buy rating in a research note on Monday, December 4th. Finally, Bank of America lowered shares of ABB from a buy rating to a neutral rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $26.67.

ABB (ABB) traded up $0.08 during midday trading on Wednesday, reaching $27.98. 1,232,869 shares of the company’s stock traded hands, compared to its average volume of 1,921,975. ABB has a 12-month low of $22.04 and a 12-month high of $28.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37. The stock has a market cap of $60,640.00, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.92 and a beta of 1.06.

ABB (NYSE:ABB) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.55 billion. ABB had a net margin of 6.79% and a return on equity of 18.65%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. equities research analysts expect that ABB will post 1.22 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Fisher Asset Management LLC lifted its stake in shares of ABB by 4.5% in the 3rd quarter. Fisher Asset Management LLC now owns 8,658,635 shares of the industrial products company’s stock valued at $214,301,000 after purchasing an additional 376,777 shares during the last quarter. Northern Trust Corp lifted its stake in shares of ABB by 1.3% in the 2nd quarter. Northern Trust Corp now owns 4,514,363 shares of the industrial products company’s stock valued at $112,408,000 after purchasing an additional 59,101 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of ABB by 1.1% in the 3rd quarter. Macquarie Group Ltd. now owns 3,877,508 shares of the industrial products company’s stock valued at $95,968,000 after purchasing an additional 40,514 shares during the last quarter. Schafer Cullen Capital Management Inc. lifted its stake in shares of ABB by 2.0% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 3,686,628 shares of the industrial products company’s stock valued at $91,797,000 after purchasing an additional 73,112 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of ABB by 14.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after purchasing an additional 432,665 shares during the last quarter. 4.73% of the stock is owned by institutional investors.

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ABB Company Profile

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

Analyst Recommendations for ABB (NYSE:ABB)

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