ABB (NYSE:ABBNY) Sets New 52-Week High – What’s Next?

ABB Ltd (NYSE:ABBNY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $107.84 and last traded at $107.75, with a volume of 480428 shares. The stock had previously closed at $106.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ABBNY shares. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Wall Street Zen downgraded shares of ABB from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Barclays upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Kepler Capital Markets cut shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $58.00.

ABB Trading Up 2.2%

The business’s fifty day moving average is $90.40 and its 200-day moving average is $81.97. The firm has a market cap of $194.57 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37.

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.