ABB (NYSE:ABBNY) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

ABB Ltd (NYSE:ABBNY)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $61.24 and traded as high as $73.40. ABB shares last traded at $73.11, with a volume of 242,229 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABBNY. Barclays reissued an “underweight” rating on shares of ABB in a research note on Tuesday, July 15th. Wall Street Zen lowered ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Kepler Capital Markets lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 17th. Citigroup raised ABB from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 21st. Finally, BNP Paribas initiated coverage on ABB in a research note on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Stock Up 0.1%

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99. The stock has a market capitalization of $134.81 billion, a PE ratio of 34.49, a PEG ratio of 2.48 and a beta of 1.20. The company has a 50 day moving average price of $69.51 and a 200-day moving average price of $61.24.

About ABB

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.