ABB (NYSE:ABBNY) Share Price Crosses Above Two Hundred Day Moving Average After Analyst Downgrade

ABB Ltd (NYSE:ABBNY) shares passed above its two hundred day moving average during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a two hundred day moving average of $65.14 and traded as high as $71.02. ABB shares last traded at $70.44, with a volume of 271,244 shares changing hands.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Barclays reissued an “underweight” rating on shares of ABB in a research note on Tuesday, July 15th. BNP Paribas assumed coverage on ABB in a research note on Tuesday, September 30th. They issued an “underperform” rating and a $58.00 price objective on the stock. Finally, Citigroup upgraded ABB from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, ABB currently has an average rating of “Hold” and a consensus price target of $58.00.

ABB Stock Performance

The firm’s 50-day moving average price is $72.14 and its 200 day moving average price is $65.25. The company has a market cap of $124.59 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37.

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.