ABB (NYSE:ABBNY) Rating Increased to Hold at Sanford C. Bernstein

ABB (NYSE:ABBNY) was upgraded by investment analysts at Sanford C. Bernstein from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the company. Evercore ISI started coverage on ABB in a report on Monday, December 15th. They issued a “hold” rating on the stock. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, BNP Paribas began coverage on shares of ABB in a research report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, ABB has a consensus rating of “Hold” and a consensus target price of $58.00.

ABB Trading Down 0.4%

NYSE ABBNY opened at $76.46 on Wednesday. The firm has a market capitalization of $140.98 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23. The business’s 50-day moving average price is $72.38 and its two-hundred day moving average price is $69.18. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. ABB has a 12 month low of $45.36 and a 12 month high of $77.50.

About ABB

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.