ABB Ltd (OTCMKTS:ABBNY) Given Average Rating of “Hold” by Brokerages

ABB Ltd (OTCMKTS:ABBNY) has received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $58.00.

Several analysts recently commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of ABB in a report on Thursday, June 18th. Erste Group Bank cut shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Berenberg Bank upgraded shares of ABB to a “hold” rating in a research report on Monday, June 1st. TD Cowen restated a “hold” rating on shares of ABB in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of ABB in a research report on Tuesday, July 21st.

Institutional Investors Weigh In On ABB

A hedge fund recently bought a new position in ABB stock. North Star Asset Management Inc. purchased a new stake in ABB Ltd (OTCMKTS:ABBNY) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. 1.06% of the stock is currently owned by institutional investors and hedge funds.

ABB Stock Up 0.8%

ABBNY opened at $96.18 on Friday. The stock’s fifty day simple moving average is $99.36 and its 200 day simple moving average is $97.48. ABB has a 1-year low of $67.24 and a 1-year high of $110.20. The stock has a market cap of $175.35 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.

ABB (OTCMKTS:ABBNY) last released its quarterly earnings data on Thursday, July 16th. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.13). The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.34 billion. ABB had a return on equity of 31.25% and a net margin of 13.86%. As a group, research analysts expect that ABB will post 3.78 earnings per share for the current year.

About ABB

ABB Ltd. is a Swiss-Swedish technology company that develops electrification, automation and industrial solutions for customers in utilities, infrastructure, transportation, manufacturing, energy and other industries. Its offerings are designed to improve energy efficiency, productivity, reliability and operational safety.

The company’s principal businesses include electrification products and systems, industrial automation, motion technologies and robotics and discrete automation. Products and services include electrical distribution equipment, building and power-management solutions, drives, motors, control systems, measurement and analytics technologies, industrial robots, collaborative robots and related software and maintenance services.

ABB was formed in 1988 through the merger of Sweden’s ASEA and Switzerland’s Brown Boveri, two engineering companies with roots dating to the late nineteenth century.