ABB (NYSE:ABBNY) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of ABB (NYSE:ABBNY) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on ABBNY. Wall Street Zen downgraded ABB from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Kepler Capital Markets raised shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a report on Thursday, January 15th. Barclays upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Sanford C. Bernstein upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.00.

ABB Stock Performance

Shares of NYSE:ABBNY traded up $3.39 during midday trading on Wednesday, hitting $95.86. The company had a trading volume of 31,241 shares, compared to its average volume of 327,013. 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 company has a market cap of $176.76 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 2.48 and a beta of 1.28. ABB has a 12-month low of $49.58 and a 12-month high of $95.94. The company has a fifty day moving average of $86.91 and a two-hundred day moving average of $78.60.

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.