ABB ( ABB) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods loser. The sector as a whole closed the day down 0.7%. By the end of trading, ABB fell 18 cents (-1%) to $17.08 on average volume. Throughout the day, 3.1 million shares of ABB exchanged hands as compared to its average daily volume of 3.4 million shares. The stock ranged in price between $16.93-$17.21 after having opened the day at $17.04 as compared to the previous trading day's close of $17.26. Other company's within the Industrial Goods sector that declined today were: Wuhan General Group Inc ( WUHN), down 18.3%, China Development Group Corporation ( CTDC), down 13.2%, Capstone Turbine Corporation ( CPST), down 9.2%, and China Recycling Energy Corporation ( CREG), down 9.1%. ABB Ltd. provides power and automation technologies for utility and industrial customers worldwide. The company's Power Products division manufactures and sells high- and medium-voltage switchgear and apparatus, circuit breakers, power and distribution transformers, and sensors. ABB has a market cap of $40.68 billion and is part of the industrial industry. The company has a P/E ratio of 16, above the average industrial industry P/E ratio of 13.5 and below the S&P 500 P/E ratio of 17.7. Shares are down 23.1% year to date as of the close of trading on Monday. TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins.
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