ABB (NYSE:ABBNY) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of ABB (NYSE:ABBNY) from a strong-buy rating to a buy rating in a report released on Saturday.

Several other equities research analysts have also recently weighed in on ABBNY. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Sanford C. Bernstein upgraded ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Evercore initiated coverage on ABB in a report on Monday, December 15th. They set a “hold” rating on the stock. Zacks Research cut ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Kepler Capital Markets raised ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Three research 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.com, ABB currently has an average rating of “Hold” and an average price target of $58.00.

ABB Trading Down 0.7%

Shares of ABBNY stock opened at $89.91 on Friday. The firm has a market capitalization of $165.78 billion, a P/E ratio of 42.41, a price-to-earnings-growth ratio of 2.48 and a beta of 1.25. ABB has a 1 year low of $45.36 and a 1 year high of $91.67. The firm’s fifty day simple moving average is $80.26 and its 200 day simple moving average is $74.11. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

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.