Shares of ABB Ltd (OTCMKTS:ABBNY – Get Free Report) saw unusually-strong trading volume on Thursday. Approximately 589,391 shares changed hands during mid-day trading, an increase of 84% from the average daily volume of 319,510 shares. The stock last traded at $83.3332 and had previously closed at $86.58.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Erste Group Bank lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of ABB in a research note on Tuesday, September 22nd. Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a report on Friday, September 18th. Pareto Securities upgraded ABB from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. Finally, Dnb Carnegie raised shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, ABB currently has a consensus rating of “Hold”.
Check Out Our Latest Analysis on ABB
ABB Stock Performance
The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.43. The company has a market cap of $148.19 billion, a PE ratio of 29.45, a PEG ratio of 1.05 and a beta of 1.42. The business’s 50-day moving average is $93.17 and its 200 day moving average is $95.08.
ABB (OTCMKTS:ABBNY – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.42). The company had revenue of $9.70 billion during the quarter. ABB had a return on equity of 31.11% and a net margin of 13.55%. On average, equities research analysts predict that ABB Ltd will post 3.84 EPS for the current fiscal year.
Institutional Trading of ABB
An institutional investor recently bought a new stake in ABB stock. North Star Asset Management Inc. bought a new position in ABB Ltd (OTCMKTS:ABBNY – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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.
About ABB
ABB is a global technology company focused on electrification and automation. Its products and services include electrical equipment and systems, industrial motors and drives, automation and control technologies, and robotics for industrial applications.
The company serves customers in industries such as manufacturing, energy, transportation and infrastructure, helping them improve productivity, operational efficiency and energy use. ABB operates in markets around the world.
ABB was formed in 1988 through the merger of Swedish company ASEA and Switzerland’s Brown, Boveri & Cie.
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