ABB (NYSE:ABBNY) Shares Gap Up – Time to Buy?

ABB Ltd (NYSE:ABBNY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $79.21, but opened at $88.4070. ABB shares last traded at $85.68, with a volume of 90,044 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABBNY shares. Evercore ISI began coverage on ABB in a report on Monday, December 15th. They set a “hold” rating for the company. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein raised shares of ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.00.

ABB Stock Up 10.0%

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 has a market cap of $160.73 billion, a PE ratio of 41.12, a PEG ratio of 2.48 and a beta of 1.23. The company has a 50 day moving average price of $73.98 and a two-hundred day moving average price of $71.02.

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.