ABB (NYSE:ABBNY) Share Price Passes Above 200 Day Moving Average – What’s Next?

ABB Ltd (NYSE:ABBNY) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $73.23 and traded as high as $91.49. ABB shares last traded at $91.00, with a volume of 262,890 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBNY shares. Zacks Research cut ABB from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Sanford C. Bernstein upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Evercore began coverage on ABB in a report on Monday, December 15th. They issued a “hold” rating on the stock. Finally, Wall Street Zen upgraded ABB from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, ABB presently has an average rating of “Hold” and an average price target of $58.00.

ABB Trading Up 0.8%

The company has a market cap of $167.79 billion, a P/E ratio of 42.92, a PEG ratio of 2.48 and a beta of 1.25. 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 business has a 50 day moving average price of $78.56 and a 200-day moving average price of $73.23.

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.