ABB (OTCMKTS:ABBNY) Trading Up 7.5% – Should You Buy?

Shares of ABB Ltd (OTCMKTS:ABBNY) shot up 7.5% during mid-day trading on Friday . The company traded as high as $99.44 and last traded at $99.01. Approximately 7,151 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 370,440 shares. The stock had previously closed at $92.14.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research report on Tuesday, July 21st. Zacks Research downgraded ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen lowered shares of ABB from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Dnb Carnegie upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ABB currently has an average rating of “Hold” and a consensus price target of $58.00.

ABB Price Performance

The firm has a 50 day moving average price of $103.55 and a 200 day moving average price of $94.20. The stock has a market capitalization of $179.49 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40.

ABB (OTCMKTS:ABBNY) last released its earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.13). ABB had a net margin of 13.86% and a return on equity of 31.25%. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.34 billion. Research analysts anticipate that ABB Ltd will post 3.78 earnings per share for the current year.

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.