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

ABB Ltd (NYSE:ABBNY)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $77.07 and last traded at $76.99, with a volume of 103359 shares changing hands. The stock had previously closed at $73.89.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBNY. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. BNP Paribas initiated coverage on ABB in a research report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 target price on the stock. Finally, Evercore ISI began coverage on ABB in a research report on Monday, December 15th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.00.

ABB Stock Performance

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 stock has a market capitalization of $142.36 billion, a PE ratio of 36.42, a PEG ratio of 2.48 and a beta of 1.23. The firm has a 50 day moving average price of $72.25 and a 200-day moving average price of $68.85.

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.