ABB (NYSE:ABBNY) Hits New 1-Year High – Here’s What Happened

Shares of ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $103.31 and last traded at $103.0580, with a volume of 227205 shares changing hands. The stock had previously closed at $99.65.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABBNY. Kepler Capital Markets lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Citigroup reaffirmed a “neutral” rating on shares of ABB in a report on Thursday, April 23rd. Zacks Research lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $58.00.

ABB Stock Up 3.4%

The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. The company has a market cap of $190.03 billion, a PE ratio of 48.61, a P/E/G ratio of 2.48 and a beta of 1.36. The stock has a 50-day moving average of $88.67 and a 200-day moving average of $80.62.

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.