ABB (NYSE:ABBNY) Reaches New 12-Month High – Should You Buy?

ABB Ltd (NYSE:ABBNY) reached a new 52-week high during trading on Tuesday . The company traded as high as $107.84 and last traded at $107.75, with a volume of 480428 shares trading hands. The stock had previously closed at $106.50.

Analyst Upgrades and Downgrades

ABBNY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Kepler Capital Markets lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, Citigroup reiterated a “neutral” rating on shares of ABB in a research note on Thursday, April 23rd. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ABB has an average rating of “Reduce” and an average price target of $58.00.

ABB Stock Up 1.2%

The firm has a market cap of $196.44 billion, a price-to-earnings ratio of 50.83, a price-to-earnings-growth ratio of 2.48 and a beta of 1.36. 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’s 50 day moving average is $89.84 and its 200 day moving average is $81.51.

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.