ABB (NYSE:ABBNY) Hits New 12-Month High – What’s Next?

ABB Ltd (NYSE:ABBNY)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $74.17 and last traded at $73.85, with a volume of 170381 shares traded. The stock had previously closed at $73.55.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABBNY. BNP Paribas began coverage on shares of ABB in a research report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price objective for the company. Citigroup raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 21st. Barclays reissued an “underweight” rating on shares of ABB in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of ABB from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Kepler Capital Markets downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.00.

ABB Stock Performance

The firm has a market cap of $136.17 billion, a PE ratio of 34.84, a PEG ratio of 2.48 and a beta of 1.20. 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’s 50 day simple moving average is $68.62 and its 200 day simple moving average is $60.54.

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.