ABB (NYSE:ABBNY) Sets New 1-Year High – Should You Buy?

ABB Ltd (NYSE:ABBNY) hit a new 52-week high on Monday . The company 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.

Wall Street Analysts Forecast Growth

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

ABB Price Performance

The firm has a market capitalization of $140.98 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $72.38 and a 200-day moving average price of $69.18.

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.