ABB (NYSE:ABBNY) Sets New 12-Month High – Here’s What Happened

ABB Ltd (NYSE:ABBNY) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $88.88 and last traded at $88.88, with a volume of 43359 shares trading hands. The stock had previously closed at $86.73.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABBNY. Wall Street Zen upgraded shares of ABB from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Sanford C. Bernstein raised shares of ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Kepler Capital Markets upgraded ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Evercore began coverage on ABB in a research note on Monday, December 15th. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a research report on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, ABB presently has an average rating of “Hold” and an average target price of $58.00.

ABB Trading Up 3.0%

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 price is $76.39 and its 200-day moving average price is $72.21. The stock has a market capitalization of $164.72 billion, a P/E ratio of 42.14, a P/E/G ratio of 2.48 and a beta of 1.25.

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.