ABB (NYSE:ABBNY) Shares Gap Down – Should You Sell?

ABB Ltd (NYSE:ABBNY) gapped down prior to trading on Tuesday . The stock had previously closed at $83.51, but opened at $79.78. ABB shares last traded at $81.49, with a volume of 48,587 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABBNY. Evercore initiated coverage on shares of ABB in a report on Monday, December 15th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Kepler Capital Markets upgraded ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Wall Street Zen downgraded shares of ABB from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

ABB Price Performance

The business’s 50 day moving average is $85.01 and its two-hundred day moving average is $76.87. 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 firm has a market capitalization of $150.92 billion, a PE ratio of 38.61, a P/E/G ratio of 2.48 and a beta of 1.24.

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.