ABB (ABB) Sets New 12-Month Low at $21.05

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ABB Ltd (NYSE:ABB) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.05 and last traded at $21.14, with a volume of 189965 shares traded. The stock had previously closed at $21.54.

ABB has been the subject of several research reports. Citigroup raised shares of ABB from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 4th. DNB Markets began coverage on shares of ABB in a research report on Monday, September 3rd. They set a “buy” rating for the company. Zacks Investment Research raised shares of ABB from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, September 19th. Societe Generale raised shares of ABB from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Finally, Jefferies Financial Group raised shares of ABB from an “underperform” rating to a “hold” rating and set a $23.00 target price for the company in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $25.67.

The stock has a market cap of $50.54 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.50 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47.

ABB (NYSE:ABB) last released its earnings results on Thursday, July 19th. The industrial products company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $9.03 billion. ABB had a net margin of 6.24% and a return on equity of 19.94%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. Equities analysts predict that ABB Ltd will post 1.38 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ABB. Sterling Capital Management LLC lifted its stake in ABB by 23.4% in the second quarter. Sterling Capital Management LLC now owns 14,997 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 2,844 shares during the last quarter. Whittier Trust Co. lifted its stake in ABB by 30.8% in the second quarter. Whittier Trust Co. now owns 12,208 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 2,875 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in ABB by 17.1% in the second quarter. Checchi Capital Advisers LLC now owns 19,777 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 2,882 shares during the last quarter. Sawtooth Solutions LLC lifted its stake in ABB by 34.3% in the second quarter. Sawtooth Solutions LLC now owns 13,015 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 3,327 shares during the last quarter. Finally, Sonora Investment Management LLC lifted its stake in ABB by 1.1% in the second quarter. Sonora Investment Management LLC now owns 303,315 shares of the industrial products company’s stock valued at $6,603,000 after acquiring an additional 3,360 shares during the last quarter. 5.29% of the stock is owned by institutional investors and hedge funds.

ABB Company Profile (NYSE:ABB)

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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