JPMorgan Chase & Co. Reaffirms “Neutral” Rating for ABB (ABB)

ABB (NYSE:ABB)‘s stock had its “neutral” rating restated by JPMorgan Chase & Co. in a research note issued on Wednesday.

ABB has been the topic of a number of other reports. 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 downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Goldman Sachs Group upgraded shares of ABB from a “neutral” rating to a “conviction-buy” rating in a research report on Tuesday, October 31st. Jefferies Group set a $20.00 price target on shares of ABB and gave the stock a “sell” rating in a research report on Tuesday, November 28th. Finally, Robert W. Baird restated a “buy” rating and set a $29.00 price target on shares of ABB in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. ABB presently has a consensus rating of “Hold” and a consensus target price of $26.67.

Shares of ABB (NYSE:ABB) opened at $27.48 on Wednesday. ABB has a 52-week low of $21.68 and a 52-week high of $27.68. The company has a market cap of $59,620.00, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.88 and a beta of 1.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.37.

ABB (NYSE:ABB) last released its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. ABB had a net margin of 6.79% and a return on equity of 18.65%. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the firm earned $0.32 EPS. ABB’s revenue was up 5.7% on a year-over-year basis. sell-side analysts anticipate that ABB will post 1.27 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ABB. Royal Bank of Canada grew its stake in shares of ABB by 58.4% in the 2nd quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock worth $51,278,000 after purchasing an additional 759,112 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 worth $86,119,000 after purchasing an additional 432,665 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of ABB by 512.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 508,400 shares of the industrial products company’s stock worth $12,583,000 after purchasing an additional 425,400 shares during the last quarter. Fisher Asset Management LLC grew its stake 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 worth $214,301,000 after purchasing an additional 376,777 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of ABB in the 3rd quarter worth approximately $5,507,000. 4.73% of the stock is currently owned by institutional investors.

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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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