ABB Sees Unusually Large Options Volume (ABB)

ABB Ltd (NYSE:ABB) was the target of some unusual options trading on Tuesday. Investors purchased 2,879 call options on the company. This is an increase of approximately 1,016% compared to the average volume of 258 call options.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded ABB from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Robert W. Baird reiterated a “buy” rating and set a $29.00 target price on shares of ABB in a research note on Friday. Jefferies Group set a $20.00 target price on ABB and gave the stock a “sell” rating in a research note on Tuesday, November 28th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of ABB in a research note on Friday, November 24th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of ABB in a research note on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. ABB currently has an average rating of “Hold” and an average price target of $26.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its position in shares of ABB by 6,598.1% in the 2nd quarter. First Trust Advisors LP now owns 849,384 shares of the industrial products company’s stock valued at $21,150,000 after buying an additional 836,703 shares during the last quarter. Folketrygdfondet grew its position in shares of ABB by 41.0% in the 2nd quarter. Folketrygdfondet now owns 2,787,278 shares of the industrial products company’s stock valued at $69,403,000 after buying an additional 810,000 shares during the last quarter. Royal Bank of Canada grew its position in shares of ABB by 58.4% in the 2nd quarter. Royal Bank of Canada now owns 2,059,313 shares of the industrial products company’s stock valued at $51,278,000 after buying an additional 759,112 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of ABB by 14.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,458,598 shares of the industrial products company’s stock valued at $86,119,000 after buying an additional 432,665 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of ABB by 512.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 508,400 shares of the industrial products company’s stock valued at $12,583,000 after buying an additional 425,400 shares during the last quarter. 4.76% of the stock is owned by institutional investors and hedge funds.

Shares of ABB (ABB) opened at $26.00 on Friday. The firm has a market capitalization of $56,371.85, a price-to-earnings ratio of 20.80, a PEG ratio of 3.38 and a beta of 1.05. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. ABB has a 1 year low of $20.93 and a 1 year high of $26.48.

ABB (NYSE:ABB) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. ABB had a return on equity of 18.65% and a net margin of 6.79%. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. ABB’s revenue was up 5.7% on a year-over-year basis. sell-side analysts anticipate that ABB will post 1.24 earnings per share for the current year.

WARNING: “ABB Sees Unusually Large Options Volume (ABB)” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this report can be read at https://stocknewstimes.com/2017/12/17/abb-sees-unusually-large-options-volume-abb.html.

ABB Company Profile

ABB Ltd (ABB) is a holding company. The Company’s segments include Electrification Products, Robotics and Motion, Industrial Automation, Power Grids, and Corporate and Other. It operates through four divisions: Electrification Products, Robotics and Motion, Industrial Automation and Power Grids. It is engaged in serving customers in utilities, industry and transport and infrastructure.

Receive News & Ratings for ABB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABB and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply