ABB (NYSE:ABB) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, May 8th, ValuEngine reports.
A number of other research analysts have also recently weighed in on ABB. Zacks Investment Research cut shares of ABB from a “hold” rating to a “strong sell” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of ABB in a research report on Monday, April 8th. Jefferies Financial Group reissued a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Berenberg Bank reissued a “sell” rating on shares of ABB in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of ABB in a research report on Thursday, February 28th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.39.
Shares of NYSE ABB traded down $0.17 during midday trading on Wednesday, reaching $18.18. 4,781,950 shares of the stock were exchanged, compared to its average volume of 2,544,226. The company has a market cap of $39.18 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09. ABB has a 52-week low of $18.05 and a 52-week high of $24.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 0.98.
Hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. lifted its holdings in ABB by 76.4% in the first quarter. Cornerstone Advisors Inc. now owns 1,390 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 602 shares during the period. Bremer Trust National Association acquired a new stake in ABB in the 4th quarter valued at about $26,000. Bremer Bank National Association acquired a new stake in ABB in the 1st quarter valued at about $29,000. Sontag Advisory LLC acquired a new stake in ABB in the 4th quarter valued at about $35,000. Finally, Institutional & Family Asset Management LLC acquired a new stake in ABB in the 1st quarter valued at about $35,000. 4.93% of the stock is owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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