Shares of ABB Ltd (OTCMKTS:ABBNY – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $96.51 and traded as high as $101.03. ABB shares last traded at $100.91, with a volume of 363,431 shares changing hands.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ABBNY. Kepler Capital Markets downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen lowered shares of ABB from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating on shares of ABB in a report on Tuesday, July 21st. Berenberg Bank upgraded ABB to a “hold” rating in a research report on Monday, June 1st. Finally, Dnb Carnegie raised ABB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.00.
Check Out Our Latest Research Report on ABB
ABB Trading Up 0.7%
ABB (OTCMKTS:ABBNY – Get Free Report) last released 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 firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.34 billion. On average, sell-side analysts forecast that ABB Ltd will post 3.78 earnings per share for the current fiscal year.
Institutional Trading of ABB
An institutional investor recently bought a new position in ABB stock. North Star Asset Management Inc. bought a new position in ABB Ltd (OTCMKTS:ABBNY – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. 1.06% of the stock is owned by hedge funds and other institutional investors.
About ABB
ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, 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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