Shares of ABB Ltd (NYSE:ABB) have earned a consensus recommendation of “Hold” from the seventeen analysts that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.00.
Several equities research analysts have recently issued reports on the company. Kepler Capital Markets restated a “buy” rating on shares of ABB in a report on Sunday, October 25th. JPMorgan Chase & Co. restated an “underweight” rating on shares of ABB in a report on Friday, November 20th. Deutsche Bank Aktiengesellschaft cut ABB from a “hold” rating to a “sell” rating in a report on Friday, November 20th. Credit Suisse Group started coverage on ABB in a report on Friday, December 18th. They set a “neutral” rating on the stock. Finally, TheStreet cut ABB from a “b” rating to a “c+” rating in a report on Monday, October 26th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its position in shares of ABB by 15.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 29,561 shares of the industrial products company’s stock worth $752,000 after acquiring an additional 3,891 shares during the last quarter. Brinker Capital Investments LLC purchased a new stake in shares of ABB during the third quarter worth about $3,684,000. Front Row Advisors LLC increased its position in shares of ABB by 829,300.0% during the third quarter. Front Row Advisors LLC now owns 82,940 shares of the industrial products company’s stock worth $2,206,000 after acquiring an additional 82,930 shares during the last quarter. Advisor Partners LLC increased its position in shares of ABB by 9.8% during the third quarter. Advisor Partners LLC now owns 20,493 shares of the industrial products company’s stock worth $522,000 after acquiring an additional 1,837 shares during the last quarter. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of ABB during the third quarter worth about $31,000. 2.86% of the stock is currently owned by institutional investors and hedge funds.
ABB (NYSE:ABB) last posted its quarterly earnings data on Friday, October 23rd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. ABB had a return on equity of 15.47% and a net margin of 21.33%. The business had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. On average, analysts forecast that ABB will post 0.81 EPS for the current fiscal year.
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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