ABB (NYSE:ABB) Receives New Coverage from Analysts at Barclays

09 Dec 2019, 17:16 by Danessa Lincoln

Research analysts at Barclays assumed coverage on shares of ABB (NYSE:ABB) in a research report issued on Monday, BenzingaRatingsTable reports. The firm set an “overweight” rating on the industrial products company’s stock.

ABB has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of ABB in a research note on Tuesday, October 8th. ValuEngine raised shares of ABB from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, Zacks Investment Research upgraded ABB from a “sell” rating to a “hold” rating and set a $21.00 target price on the stock in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.09.

NYSE:ABB traded up $0.06 on Monday, reaching $22.52. 110,166 shares of the company’s stock were exchanged, compared to its average volume of 1,357,264. The firm has a market cap of $48.03 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 3.56 and a beta of 1.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.36 and a quick ratio of 1.12. The stock has a fifty day simple moving average of $21.38 and a 200-day simple moving average of $19.61. ABB has a 52 week low of $17.71 and a 52 week high of $22.57.

ABB (NYSE:ABB) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.95 billion. ABB had a net margin of 5.06% and a return on equity of 19.16%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict that ABB will post 0.92 EPS for the current year.

Several institutional investors have recently made changes to their positions in ABB. Fisher Asset Management LLC grew its stake in ABB by 4.9% during the third quarter. Fisher Asset Management LLC now owns 12,752,587 shares of the industrial products company’s stock valued at $250,843,000 after acquiring an additional 598,340 shares in the last quarter. Northern Trust Corp grew its holdings in ABB by 0.5% during the second quarter. Northern Trust Corp now owns 6,076,996 shares of the industrial products company’s stock worth $121,723,000 after acquiring an additional 31,731 shares during the period. Morgan Stanley boosted its holdings in ABB by 23.2% during the second quarter. Morgan Stanley now owns 4,332,576 shares of the industrial products company’s stock worth $86,781,000 after buying an additional 816,202 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of ABB by 13.4% during the third quarter. Parametric Portfolio Associates LLC now owns 2,309,454 shares of the industrial products company’s stock worth $45,427,000 after purchasing an additional 272,060 shares during the last quarter. Finally, Nuance Investments LLC boosted its stake in ABB by 55.3% in the 2nd quarter. Nuance Investments LLC now owns 2,088,781 shares of the industrial products company’s stock worth $41,838,000 after buying an additional 744,147 shares during the last quarter. 4.60% of the stock is currently owned by hedge funds and other institutional investors.

ABB Company Profile

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.