ABB (NYSE:ABBNY) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of ABB Ltd (NYSE:ABBNY) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $73.23 and traded as high as $91.49. ABB shares last traded at $91.00, with a volume of 262,890 shares.

Wall Street Analyst Weigh In

ABBNY has been the subject of several research analyst reports. Wall Street Zen upgraded ABB from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Evercore assumed coverage on shares of ABB in a research report on Monday, December 15th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Finally, Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Three investment 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 company. Based on data from MarketBeat, ABB currently has an average rating of “Hold” and a consensus target price of $58.00.

ABB Stock Down 0.5%

The firm has a market cap of $166.89 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 2.48 and a beta of 1.25. The company’s 50-day simple moving average is $78.92 and its 200 day simple moving average is $73.41. 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.