Brokerages Set ABB Ltd (NYSE:ABBNY) Price Target at $58.00

Shares of ABB Ltd (NYSE:ABBNY) have received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $58.00.

A number of research analysts recently issued reports on ABBNY shares. Wall Street Zen downgraded ABB from a “strong-buy” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a research report on Thursday, January 15th.

ABB Price Performance

Shares of NYSE ABBNY opened at $91.34 on Wednesday. The company has a fifty day moving average price of $80.61 and a 200 day moving average price of $74.28. The firm has a market cap of $168.42 billion, a PE ratio of 43.09, a PEG ratio of 2.48 and a beta of 1.25. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. ABB has a 1-year low of $45.36 and a 1-year high of $91.69.

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.