ValuEngine lowered shares of ABB (NYSE:ABB) from a hold rating to a sell rating in a research note released on Tuesday morning, ValuEngine reports.

ABB has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Inflarx from a buy rating to a hold rating in a report on Friday, May 3rd. Deutsche Bank reiterated a buy rating and issued a $24.00 price objective on shares of ABB in a report on Tuesday, May 21st. Berenberg Bank reiterated a hold rating on shares of Telefonica in a report on Tuesday, March 19th. Royal Bank of Canada set a $60.00 price objective on shares of Masonite International and gave the company a buy rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a report on Tuesday. They issued an underweight rating and a $20.48 price objective for the company. Four analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $21.07.

ABB opened at $18.71 on Tuesday. ABB has a twelve month low of $18.05 and a twelve month high of $24.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.23. The stock’s 50-day moving average is $19.22. The firm has a market cap of $40.01 billion, a P/E ratio of 14.07, a PEG ratio of 2.97 and a beta of 1.14.

ABB (NYSE:ABB) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.82 billion. ABB had a net margin of 6.59% and a return on equity of 19.31%. ABB’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, sell-side analysts expect that ABB will post 0.92 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake in shares of ABB by 20.5% in the 1st quarter. Lindbrook Capital LLC now owns 3,048 shares of the industrial products company’s stock valued at $57,000 after buying an additional 518 shares during the period. Cardinal Capital Management grew its stake in shares of ABB by 0.6% in the 1st quarter. Cardinal Capital Management now owns 92,264 shares of the industrial products company’s stock valued at $1,741,000 after buying an additional 522 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of ABB by 76.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock valued at $26,000 after buying an additional 602 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of ABB by 0.8% in the 1st quarter. CIBC Private Wealth Group LLC now owns 78,886 shares of the industrial products company’s stock valued at $1,488,000 after buying an additional 618 shares during the period. Finally, Van Cleef Asset Management Inc grew its stake in shares of ABB by 1.9% in the 1st quarter. Van Cleef Asset Management Inc now owns 37,590 shares of the industrial products company’s stock valued at $709,000 after buying an additional 685 shares during the period. 4.92% of the stock is owned by institutional investors and hedge funds.

About ABB

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, 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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