ABB (NYSE:ABB) Earns Strong-Buy Rating from Analysts at StockNews.com

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

ABB has been the topic of several other research reports. BNP Paribas cut shares of ABB from a neutral rating to an underperform rating in a research note on Wednesday, November 30th. Exane BNP Paribas cut shares of ABB from a neutral rating to an underperform rating in a research note on Wednesday, November 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ABB has a consensus rating of Hold and a consensus target price of $29.54.

ABB Price Performance

Shares of NYSE ABB opened at $31.99 on Thursday. The firm has a market cap of $62.85 billion, a PE ratio of 24.61, a PEG ratio of 3.18 and a beta of 1.10. The firm has a fifty day moving average of $33.75 and a 200 day moving average of $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 one year low of $24.27 and a one year high of $35.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. AXA S.A. acquired a new position in shares of ABB during the 3rd quarter valued at about $25,000. Money Concepts Capital Corp acquired a new position in shares of ABB during the 4th quarter valued at about $25,000. Resurgent Financial Advisors LLC acquired a new position in shares of ABB during the 4th quarter valued at about $27,000. Ronald Blue Trust Inc. acquired a new position in shares of ABB during the 2nd quarter valued at about $29,000. Finally, SG3 Management LLC acquired a new position in ABB in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 5.24% of the company’s stock.

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.