ABB (ABB) Shares Gap Down to $19.81

ABB Ltd (NYSE:ABB)’s share price gapped down prior to trading on Friday . The stock had previously closed at $20.27, but opened at $19.81. ABB shares last traded at $19.40, with a volume of 3807686 shares changing hands.

ABB has been the subject of a number of analyst reports. Zacks Investment Research raised ABB from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, September 19th. Societe Generale raised ABB from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of ABB in a research report on Monday, October 8th. TheStreet downgraded ABB from a “b” rating to a “c+” rating in a research report on Thursday, November 8th. Finally, Berenberg Bank reissued a “hold” rating on shares of ABB in a research report on Monday, November 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. ABB currently has an average rating of “Hold” and a consensus target price of $22.87.

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 firm has a market cap of $42.22 billion, a PE ratio of 15.52, a P/E/G ratio of 2.10 and a beta of 1.16.



ABB (NYSE:ABB) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The business had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.46 billion. ABB had a net margin of 6.24% and a return on equity of 19.99%. As a group, research analysts predict that ABB Ltd will post 1.27 EPS for the current fiscal year.

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

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About ABB (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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