ABB (NYSE:ABBNY) Shares Cross Above 200 Day Moving Average – Here’s Why

ABB Ltd (NYSE:ABBNY)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $65.72 and traded as high as $69.17. ABB shares last traded at $69.13, with a volume of 357,751 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. BNP Paribas initiated 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, ABB currently has a consensus rating of “Hold” and a consensus price target of $58.00.

ABB Trading Up 1.8%

The firm has a market capitalization of $129.79 billion, a P/E ratio of 33.20, a PEG ratio of 2.48 and a beta of 1.19. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $71.91 and a 200-day moving average of $65.78.

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.