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

Shares of ABB Ltd (NYSE:ABBNY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $103.31 and last traded at $103.0580, with a volume of 227205 shares traded. The stock had previously closed at $99.65.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Kepler Capital Markets downgraded ABB from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Zacks Research downgraded ABB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Barclays upgraded ABB from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen upgraded ABB from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 23rd. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ABB currently has an average rating of “Reduce” and a consensus price target of $58.00.

ABB Stock Performance

The stock has a market cap of $190.03 billion, a PE ratio of 48.61, a P/E/G ratio of 2.48 and a beta of 1.36. The company has a fifty day moving average price of $88.67 and a 200 day moving average price of $80.62. The company has a quick ratio of 0.99, a current ratio of 1.37 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.