ABB (NYSE:ABBNY) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

ABB Ltd (NYSE:ABBNY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $70.53 and traded as high as $76.44. ABB shares last traded at $76.44, with a volume of 148,584 shares.

Analysts Set New Price Targets

A number of research firms have commented on ABBNY. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a research report on Thursday, January 15th. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. BNP Paribas Exane initiated coverage on ABB in a research note on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price target on the stock. Evercore ISI began coverage on ABB in a research note on Monday, December 15th. They issued a “hold” rating for the company. Finally, Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, ABB currently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Stock Performance

The company’s fifty day moving average price is $73.35 and its two-hundred day moving average price is $70.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37. The firm has a market capitalization of $140.95 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23.

About ABB

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.