ABB (NYSE:ABBNY) Sets New 12-Month High – Here’s Why

ABB Ltd (NYSE:ABBNY)’s stock price reached a new 52-week high on Monday . The stock traded as high as $59.91 and last traded at $59.88, with a volume of 22411 shares trading hands. The stock had previously closed at $58.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABBNY shares. Kepler Capital Markets upgraded ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Dnb Nor Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Cfra Research lowered shares of ABB from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

ABB Stock Down 2.4%

The firm has a market cap of $108.06 billion, a PE ratio of 27.40, a PEG ratio of 2.48 and a beta of 1.16. 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 firm has a 50 day moving average price of $54.90 and a 200-day moving average price of $55.06.

About ABB

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.