ABB (OTCMKTS:ABBNY) Sees Large Volume Increase – Still a Buy?

ABB Ltd (OTCMKTS:ABBNY) shares saw unusually-strong trading volume on Tuesday . 268,817 shares changed hands during mid-day trading, a decline of 23% from the previous session’s volume of 351,349 shares.The stock last traded at $105.3301 and had previously closed at $101.61.

Analyst Upgrades and Downgrades

ABBNY has been the subject of several recent analyst reports. TD Cowen reiterated a “hold” rating on shares of ABB in a research report on Tuesday, June 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of ABB in a research report on Wednesday, May 6th. Kepler Capital Markets downgraded ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Berenberg Bank raised ABB to a “hold” rating in a research report on Monday, June 1st. Finally, Zacks Research downgraded ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Eleven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $58.00.

ABB Trading Up 2.5%

The firm’s 50-day moving average price is $105.30 and its 200 day moving average price is $92.09. The company has a market cap of $189.84 billion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 1.62 and a beta of 1.36. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43.

About ABB

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.