ABB (NYSE:ABBNY) Downgraded to "Hold" Rating by The Goldman Sachs Group

ABB (NYSE:ABBNY - Get Free Report) was downgraded by stock analysts at The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Separately, Citigroup downgraded shares of ABB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 2nd.

ABB Stock Performance

ABBNY stock traded down $0.53 during trading on Tuesday, hitting $55.43. 136,727 shares of the company's stock traded hands, compared to its average volume of 223,034. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.47. ABB has a 52 week low of $33.42 and a 52 week high of $59.52. The stock has a fifty day moving average price of $56.70 and a two-hundred day moving average price of $54.70. The stock has a market capitalization of $103.13 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.96 and a beta of 1.16.

ABB (NYSE:ABBNY - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). ABB had a net margin of 11.77% and a return on equity of 27.83%. The firm had revenue of $8.15 billion for the quarter. As a group, equities analysts anticipate that ABB will post 2.14 EPS for the current fiscal year.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.