ABB (NYSE: ABB) Given Morgan Stanley analyst price target of $ 36.61
ABB (NYSE: ABB) received a price target of $ 36.61 from analysts at Morgan Stanley in a report released Friday, Fly reports. The company currently has an “underweight” rating on the stocks of the industrial products company. Morgan Stanley’s price target would point to a potential decline of 0.33% from the company’s previous close.
Several other equity analysts have also weighed on ABB recently. The UBS Group reiterated a “buy” note on ABB shares in a research note on Wednesday April 28. Credit Suisse Group reaffirmed a “neutral” rating on ABB shares in a research note on Wednesday April 28. TheStreet upgraded ABB’s shares from a “c +” rating to a “b-” rating in a research report published on Tuesday, April 13. JPMorgan Chase & Co. reiterated a “neutral” rating on ABB shares in a research report on Tuesday, June 29. Finally, Kepler Capital Markets upgraded ABB’s shares from a “hold” rating to a “buy” rating and set a target price of $ 36.00 for the company in a report released on Friday, July 2. One research analyst rated the stock with a sell rating, eight assigned a conservation rating, five assigned a buy rating, and one issued a strong buy rating for the company’s stock. ABB currently has a consensus rating of “Hold” and an average price target of $ 34.15.
ABB stock traded up $ 0.71 in Friday’s session, reaching $ 36.73. 78,496 shares of the stock traded for an average volume of 1,265,243. The stock has a 50-day simple moving average of $ 34.49. The company has a current ratio of 1.19, a quick ratio of 0.90 and a debt ratio of 0.40. The stock has a market cap of $ 75.41 billion, a PE ratio of 14.70, a price / earnings-growth ratio of 4.34, and a beta of 1.05. ABB has a one-year minimum at $ 24.07 and a one-year maximum at $ 36.21.
ABB (NYSE: ABB) last reported its quarterly results on Wednesday, July 21. The industrials company reported earnings per share (EPS) of $ 0.37 for the quarter, beating analyst consensus estimates of $ 0.36 by $ 0.01. ABB had a net margin of 19.66% and a return on equity of 14.27%. The company posted revenue of $ 7.45 billion for the quarter, compared to a consensus estimate of $ 7.25 billion. In the same quarter of last year, the company posted EPS of $ 0.22. The company’s quarterly revenue is up 21.0% from the same quarter last year. As a group, equity research analysts predict that ABB will post 1.33 EPS for the current fiscal year.
Hedge funds and other institutional investors recently bought and sold shares in the company. Premier Asset Management LLC increased its stake in ABB by 12.5% during the first quarter. Premier Asset Management LLC now owns 105,528 shares of the industrial products company valued at $ 3,215,000 after purchasing an additional 11,760 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in ABB by 8.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 53,834 shares of the industrial products company valued at $ 1,640,000 after purchasing an additional 4,274 shares during the period. Scout Investments Inc. increased its stake in ABB by 1.8% during the first quarter. Scout Investments Inc. now owns 93,548 shares of the industrial products company valued at $ 2,850,000 after purchasing an additional 1,669 shares during the period. Avalon Investment & Advisory increased its stake in ABB by 22.6% during the first quarter. Avalon Investment & Advisory now owns 39,342 shares of the industrials company valued at $ 1,199,000 after purchasing an additional 7,249 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in ABB by 13.2% during the first quarter. Quadrant Capital Group LLC now owns 4,309 shares of the industrial products company valued at $ 131,000 after purchasing an additional 504 shares during the period. 5.01% of the shares are held by institutional investors.
ABB Company Profile
ABB Ltd manufactures and sells electrification, industrial automation, robotics and motion products for utility, industrial and transportation, and infrastructure customers worldwide. Its Electrification segment provides electric vehicle charging infrastructure, renewable energy solutions, modular substation assemblies, distribution automation products, distribution boards and panels, switchgear, UPS solutions, circuit breakers, metering and sensing devices, control products, wiring accessories, enclosures and wiring systems, and smart home and building solutions for integration and automation lighting, heating, ventilation, security and data communications networks.
Further Reading: What Is Quantitative Easing?
Featured article: Environmental, social and governance (ESG) investment
7 Penny Stocks That Don’t Care About Robinhood
As you read this, Vladimir Tenev, CEO of the Robinhood trading app, will be testifying before Congress. The company’s role in the GameStop (NYSE: GME) short squeeze will be called into question.
However, the real issue is the right of traders to buy and sell the stocks of their choice. In the case of Robinhood, some traders buy a lot of penny stocks. Although definitions vary, penny stocks are generally considered to be stocks that trade for less than $ 10 per share. These actions are largely ignored by the investment community.
One of the reasons is that many of these stocks are cheap for a reason. For example, the company may have an outdated business model. In other cases, they operate in a very small niche market that doesn’t generate a lot of income.
And most of these stocks are ignored by the investment community. They are simply not considered important enough to spend time debating.
But some penny stocks are getting the attention of Wall Street. And they are largely ignored by the day trading community. The goal of this special talk is to point you to penny stocks that have a history that “smart money” says will eventually trade at much higher prices.
And that’s why you should watch them now.
See the “7 Penny Stocks That Don’t Care About Robinhood”.