ABB (OTCMKTS:ABBNY) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of ABB (OTCMKTS:ABBNY) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other research firms also recently weighed in on ABBNY. Barclays raised ABB from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Citigroup reiterated a “neutral” rating on shares of ABB in a research note on Thursday, June 18th. Royal Bank Of Canada reissued a “sector perform” rating on shares of ABB in a report on Wednesday, May 6th. Kepler Capital Markets lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Berenberg Bank raised shares of ABB to a “hold” rating in a report on Monday, June 1st. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $58.00.

ABB Stock Down 3.4%

ABBNY opened at $105.97 on Monday. The firm has a 50 day moving average price of $102.72 and a 200-day moving average price of $88.95. The stock has a market capitalization of $193.20 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 1.79 and a beta of 1.36. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 0.43. ABB has a twelve month low of $56.59 and a twelve month high of $110.20.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.