ABB (ABB) Stock Rating Lowered by JPMorgan Chase & Co.

ABB (NYSE:ABB) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, Marketbeat.com reports. They currently have a $20.36 price target on the industrial products company’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 3.56% from the stock’s current price.

Several other analysts have also recently commented on the stock. DNB Markets started coverage on shares of ABB in a report on Monday, September 3rd. They set a “buy” rating for the company. Citigroup upgraded shares of ABB from a “neutral” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded shares of ABB from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, September 19th. TheStreet cut shares of ABB from a “b” rating to a “c+” rating in a report on Thursday, November 8th. Finally, William Blair reaffirmed a “hold” rating on shares of ABB in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. ABB has an average rating of “Hold” and a consensus price target of $24.34.

ABB stock opened at $19.66 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. The company has a market cap of $43.37 billion, a P/E ratio of 15.73, a P/E/G ratio of 2.12 and a beta of 1.27. ABB has a 52 week low of $19.08 and a 52 week high of $28.67.

ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.46 billion. ABB had a return on equity of 19.99% and a net margin of 6.24%. As a group, analysts anticipate that ABB will post 1.39 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc bought a new position in ABB during the third quarter valued at approximately $100,000. Belpointe Asset Management LLC bought a new position in ABB during the third quarter valued at approximately $132,000. Covington Capital Management raised its position in ABB by 231.9% during the third quarter. Covington Capital Management now owns 5,725 shares of the industrial products company’s stock valued at $135,000 after acquiring an additional 4,000 shares in the last quarter. Ballentine Partners LLC bought a new position in ABB during the third quarter valued at approximately $206,000. Finally, Ingalls & Snyder LLC bought a new position in ABB during the third quarter valued at approximately $209,000. 4.87% of the stock is currently owned by hedge funds and other institutional investors.

About 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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Analyst Recommendations for ABB (NYSE:ABB)

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