ABB (NYSE:ABBNY) Reaches New 1-Year High – Here’s What Happened

ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $75.16 and last traded at $75.13, with a volume of 124445 shares changing hands. The stock had previously closed at $74.36.

Analyst Ratings Changes

ABBNY has been the topic of several research reports. Zacks Research downgraded ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Evercore ISI began coverage on ABB in a research note on Monday, December 15th. They issued a “hold” rating on the stock. Finally, BNP Paribas initiated coverage on shares of ABB in a research report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.00.

ABB Trading Up 1.0%

The stock has a market capitalization of $138.46 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24. 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 company has a fifty day moving average of $72.09 and a two-hundred day moving average of $67.80.

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.