ABB (NYSE:ABB) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of ABB (NYSE:ABB – Get Rating) in a research note released on Thursday morning. The firm issued a strong-buy rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. BNP Paribas lowered shares of ABB from a neutral rating to an underperform rating in a research note on Wednesday, November 30th. Exane BNP Paribas lowered shares of ABB from a neutral rating to an underperform rating in a research note on Wednesday, November 30th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ABB currently has a consensus rating of Hold and an average price target of $29.54.

ABB Stock Down 1.7 %

ABB stock opened at $31.99 on Thursday. The company’s 50 day moving average price is $33.75 and its 200 day moving average price is $30.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.18. ABB has a fifty-two week low of $24.27 and a fifty-two week high of $35.54. The firm has a market capitalization of $62.85 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 3.18 and a beta of 1.10.

Hedge Funds Weigh In On ABB

Several hedge funds have recently added to or reduced their stakes in ABB. BlackRock Inc. increased its stake in ABB by 8.1% in the first quarter. BlackRock Inc. now owns 997,550 shares of the industrial products company’s stock valued at $32,261,000 after purchasing an additional 74,433 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in ABB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 55,264 shares of the industrial products company’s stock valued at $1,787,000 after purchasing an additional 581 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of ABB by 20.6% in the first quarter. Sei Investments Co. now owns 20,326 shares of the industrial products company’s stock valued at $653,000 after acquiring an additional 3,473 shares during the period. Cetera Investment Advisers boosted its holdings in shares of ABB by 5.5% in the first quarter. Cetera Investment Advisers now owns 7,404 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 384 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of ABB by 50.7% in the first quarter. Sequoia Financial Advisors LLC now owns 8,579 shares of the industrial products company’s stock valued at $278,000 after acquiring an additional 2,887 shares during the period. 5.24% of the stock is currently owned by hedge funds and other institutional investors.

About ABB

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ABB Ltd. is a technology company, which engages in the development and provision of electrification, motion and automation solutions. It operates through the following business segments: Electrification, Motion, Process Automation and Robotics & Discrete Automation. The Electrification segment manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical flow from the substation to the socket.