ABB (NYSE:ABBNY) Sets New 12-Month High – Still a Buy?

ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $77.65 and last traded at $77.46, with a volume of 28489 shares. The stock had previously closed at $76.44.

Analyst Upgrades and Downgrades

ABBNY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of ABB in a research report on Thursday, January 15th. BNP Paribas Exane initiated coverage on ABB in a research note on Tuesday, September 30th. They set an “underperform” rating and a $58.00 target price on the stock. Sanford C. Bernstein raised shares of ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Evercore ISI assumed coverage on ABB in a report on Monday, December 15th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, ABB presently has an average rating of “Hold” and an average price target of $58.00.

ABB Trading Up 1.7%

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 stock’s 50-day moving average price is $73.35 and its 200 day moving average price is $70.69. The firm has a market capitalization of $143.36 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23.

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.