ABB (NYSE:ABB) Price Target Lowered to CHF 35 at UBS Group

ABB (NYSE:ABBGet Rating) had its price target lowered by equities researchers at UBS Group from CHF 37 to CHF 35 in a report issued on Friday, The Fly reports.

ABB has been the topic of a number of other research reports. Morgan Stanley raised their target price on ABB from CHF 27 to CHF 27.20 in a report on Tuesday, July 5th. StockNews.com lowered ABB from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 21st. Barclays dropped their target price on ABB from CHF 36 to CHF 34 in a report on Tuesday, April 5th. JPMorgan Chase & Co. raised their target price on ABB from CHF 32 to CHF 33 in a report on Friday, April 22nd. Finally, Citigroup lowered ABB from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.03.

ABB Stock Down 0.6 %

Shares of NYSE:ABB opened at $28.54 on Friday. The business’s 50 day simple moving average is $28.33 and its two-hundred day simple moving average is $31.59. The firm has a market cap of $56.07 billion, a P/E ratio of 13.21, a PEG ratio of 3.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.15. ABB has a 52-week low of $25.80 and a 52-week high of $39.11.

ABB (NYSE:ABBGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). ABB had a return on equity of 16.71% and a net margin of 14.87%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts forecast that ABB will post 1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC grew its stake in shares of ABB by 3.2% during the 4th quarter. AE Wealth Management LLC now owns 15,721 shares of the industrial products company’s stock worth $600,000 after acquiring an additional 494 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of ABB during the 4th quarter worth $697,000. National Bank of Canada FI bought a new position in shares of ABB during the 4th quarter worth $257,000. Signaturefd LLC grew its stake in shares of ABB by 18.0% during the 4th quarter. Signaturefd LLC now owns 20,295 shares of the industrial products company’s stock worth $775,000 after acquiring an additional 3,094 shares during the period. Finally, S.C. Financial Services Inc. bought a new position in shares of ABB during the 4th quarter worth $224,000. Hedge funds and other institutional investors own 14.37% of the company’s stock.

ABB Company Profile

(Get Rating)

ABB Ltd engages in manufacture and sale of electrification, automation, robotics, and motion products for customers in utilities, industry and transport, and infrastructure in Switzerland and internationally. Its Electrification segment provides electric vehicle charging infrastructure, renewable power solutions, modular substation packages, distribution automation products, switchboard and panelboards, switchgear, 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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