Goldman Sachs Group Reiterates Buy Rating for ABB (ABB)

Goldman Sachs Group reiterated their buy rating on shares of ABB (NYSE:ABB) in a report published on Monday.

A number of other analysts have also recently commented on the stock. Deutsche Bank upgraded shares of ABB from a hold rating to a buy rating in a research report on Monday, December 4th. Zacks Investment Research cut shares of ABB from a hold rating to a sell rating in a research report on Tuesday, October 10th. Robert W. Baird set a $28.00 price objective on shares of ABB and gave the company a buy rating in a research report on Thursday, August 24th. Jefferies Group set a $20.00 price objective on shares of ABB and gave the company a sell rating in a research report on Tuesday, November 28th. Finally, J P Morgan Chase & Co restated a neutral rating on shares of ABB in a research report on Friday, November 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $26.00.

ABB (ABB) opened at $26.10 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 1.03. The firm has a market capitalization of $56,588.66, a price-to-earnings ratio of 20.88, a PEG ratio of 3.39 and a beta of 1.05. ABB has a 12 month low of $20.80 and a 12 month high of $26.48.

ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.55 billion. ABB had a return on equity of 18.65% and a net margin of 6.79%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. sell-side analysts forecast that ABB will post 1.24 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings 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 acquiring an additional 376,777 shares in the last quarter. Northern Trust Corp lifted its stake in 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 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 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 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. Institutional investors own 4.76% of the company’s stock.

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About ABB

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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