ABB (NYSE:ABBNY) Sets New 12-Month High – Here’s What Happened

ABB Ltd (NYSE:ABBNY)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $88.88 and last traded at $88.88, with a volume of 43359 shares traded. The stock had previously closed at $86.73.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABBNY. Sanford C. Bernstein upgraded ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Kepler Capital Markets raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Finally, Evercore assumed coverage on shares of ABB in a research report on Monday, December 15th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ABB presently has an average rating of “Hold” and an average target price of $58.00.

ABB Trading Down 0.6%

The company’s fifty day simple moving average is $77.12 and its 200-day simple moving average is $72.53. The firm has a market capitalization of $164.18 billion, a PE ratio of 42.00, a P/E/G ratio of 2.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99.

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.