ABB Ltd (OTCMKTS:ABBNY) Receives $58.00 Consensus Target Price from Analysts

ABB Ltd (OTCMKTS:ABBNY) has received an average rating of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $58.00.

A number of analysts recently weighed in on the stock. Dnb Carnegie raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Erste Group Bank lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. TD Cowen restated a “hold” rating on shares of ABB in a research note on Tuesday, June 30th. Berenberg Bank raised ABB to a “hold” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research note on Tuesday, July 21st.

Institutional Trading of ABB

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

ABB Stock Down 1.6%

ABBNY opened at $95.38 on Friday. The firm has a 50 day moving average price of $99.56 and a 200 day moving average price of $97.49. The company has a market cap of $173.89 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.36. ABB has a 1 year low of $67.24 and a 1 year high of $110.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.43.

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

ABB Company Profile

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.