ABB (NYSE:ABBNY) Hits New 1-Year High – What’s Next?

Shares of ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $77.65 and last traded at $77.46, with a volume of 28489 shares trading hands. The stock had previously closed at $76.44.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of a number of recent research reports. Evercore ISI initiated coverage on ABB in a report on Monday, December 15th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of ABB in a research report on Thursday, January 15th. BNP Paribas Exane initiated coverage on ABB in a report on Tuesday, September 30th. They issued an “underperform” rating and a $58.00 target price on the stock. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.00.

ABB Stock Performance

The company’s 50-day moving average price is $73.98 and its 200 day moving average price is $71.02. The stock has a market capitalization of $146.06 billion, a PE ratio of 37.36, a PEG ratio of 2.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37.

ABB Company Profile

ABB Ltd. is a global engineering and technology company headquartered in Zürich, Switzerland, with roots dating to the 1988 merger of ASEA and Brown, Boveri & Cie. The company develops and supplies technologies that enable electrification, automation and digitalization across utility, industrial, transportation and infrastructure markets. ABB’s offerings span hardware, software and services designed to improve efficiency, reliability and sustainability for its customers.

ABB’s principal activities include electrification products and systems for power distribution and management; industrial and factory automation solutions; robotics and discrete automation for manufacturing; and motion technologies including electric motors and drives.