ABB (NYSE:ABB) Reaches New 1-Year High at $37.76

ABB Ltd (NYSE:ABB – Get Rating)’s share price hit a new 52-week high on Friday . The company traded as high as $37.76 and last traded at $37.66, with a volume of 422413 shares changing hands. The stock had previously closed at $37.03.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of ABB in a research note on Thursday. They issued a “strong-buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ABB presently has a consensus rating of “Hold” and a consensus price target of $28.68.

ABB Price Performance

The business’s fifty day moving average is $34.74 and its 200-day moving average is $33.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 0.80. The firm has a market cap of $73.80 billion, a PE ratio of 24.39, a P/E/G ratio of 3.58 and a beta of 1.11.

ABB (NYSE:ABB – Get Rating) last posted its earnings results on Monday, April 24th. The industrial products company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.16. The firm had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $7.58 billion. ABB had a net margin of 9.58% and a return on equity of 23.19%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. On average, research analysts predict that ABB Ltd will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ABB

Several institutional investors and hedge funds have recently modified their holdings of the stock. AXA S.A. purchased a new stake in ABB in the 3rd quarter worth approximately $25,000. Money Concepts Capital Corp acquired a new stake in shares of ABB in the 4th quarter worth $25,000. Resurgent Financial Advisors LLC purchased a new position in ABB during the 4th quarter valued at about $27,000. SG3 Management LLC purchased a new position in shares of ABB in the 4th quarter valued at about $30,000. Finally, Larson Financial Group LLC purchased a new position in shares of ABB in the 1st quarter valued at about $30,000. Institutional investors 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.