ABB (OTCMKTS:ABBNY) Stock Price Crosses Above 200-Day Moving Average on Analyst Downgrade

ABB Ltd (OTCMKTS:ABBNY)’s share price crossed above its 200-day moving average during trading on Thursday after Dnb Carnegie upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of $97.04 and traded as high as $99.56. ABB shares last traded at $98.75, with a volume of 128,635 shares changing hands.

ABBNY has been the subject of several other research reports. Wall Street Zen cut ABB from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Citigroup reissued a “neutral” rating on shares of ABB in a research note on Thursday, June 18th. Pareto Securities raised shares of ABB from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in ABB stock. North Star Asset Management Inc. bought a new stake in ABB Ltd (OTCMKTS:ABBNY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. Hedge funds and other institutional investors own 1.06% of the company’s stock.

ABB Trading Down 0.3%

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 1.08. The business has a 50-day simple moving average of $101.38 and a two-hundred day simple moving average of $97.05. The stock has a market cap of $179.51 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 1.46 and a beta of 1.36.

ABB (OTCMKTS:ABBNY) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.13). The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.34 billion. ABB had a net margin of 13.86% and a return on equity of 31.25%. Equities analysts forecast that ABB Ltd will post 3.78 EPS for the current fiscal year.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.