ABB (ABB) Hits New 12-Month High at $26.52

ABB Ltd (NYSE:ABB) reached a new 52-week high during trading on Monday . The company traded as high as $26.52 and last traded at $26.00, with a volume of 2438400 shares traded. The stock had previously closed at $26.10.

ABB has been the topic of a number of research analyst reports. Robert W. Baird set a $28.00 target price on ABB and gave the stock a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded ABB from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, December 13th. Goldman Sachs Group reiterated a “buy” rating on shares of ABB in a research report on Monday, December 11th. Deutsche Bank upgraded ABB from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of ABB in a research report on Friday, November 24th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. ABB currently has an average rating of “Hold” and an average target price of $26.00.

The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $57,530.00, a PE ratio of 20.80, a PEG ratio of 3.38 and a beta of 1.06.

ABB (NYSE:ABB) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. ABB had a return on equity of 18.65% and a net margin of 6.79%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts expect that ABB Ltd will post 1.24 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ABB. Bank of Nova Scotia Trust Co. purchased a new stake in ABB during the third quarter valued at approximately $113,000. Cubist Systematic Strategies LLC raised its position in ABB by 296.7% during the second quarter. Cubist Systematic Strategies LLC now owns 4,800 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 3,590 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in ABB during the second quarter valued at approximately $120,000. IFP Advisors Inc raised its position in ABB by 71.0% during the second quarter. IFP Advisors Inc now owns 6,552 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 2,721 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in ABB during the third quarter valued at approximately $184,000. Institutional investors and hedge funds own 4.74% of the company’s stock.

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About ABB

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

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