ABB (ABB) Upgraded by Bank of America to “Buy”
A number of other brokerages also recently weighed in on ABB. Zacks Investment Research raised ABB from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Wednesday, September 19th. Societe Generale upgraded ABB from a hold rating to a buy rating in a research note on Thursday, September 13th. JPMorgan Chase & Co. reiterated a neutral rating on shares of ABB in a research note on Monday, October 8th. TheStreet cut ABB from a b rating to a c+ rating in a research note on Thursday, November 8th. Finally, Berenberg Bank reiterated a hold rating on shares of ABB in a research note on Monday, November 19th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $22.87.
Shares of ABB stock opened at $19.40 on Tuesday. The firm has a market capitalization of $42.22 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.16. ABB has a fifty-two week low of $18.05 and a fifty-two week high of $28.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.18.
A number of large investors have recently made changes to their positions in ABB. NEXT Financial Group Inc acquired a new position in ABB during the 3rd quarter valued at about $100,000. Belpointe Asset Management LLC purchased a new stake in shares of ABB during the third quarter valued at approximately $132,000. Covington Capital Management grew its holdings in shares of ABB by 231.9% during the third quarter. Covington Capital Management now owns 5,725 shares of the industrial products company’s stock valued at $135,000 after buying an additional 4,000 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of ABB during the third quarter valued at approximately $206,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of ABB during the third quarter valued at approximately $209,000. 4.87% of the stock is owned by institutional investors and hedge funds.
ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.
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