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

ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.16 and last traded at $75.13, with a volume of 124445 shares traded. The stock had previously closed at $74.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BNP Paribas assumed coverage on ABB in a research note on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price target on the stock. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Evercore ISI assumed coverage on ABB in a report on Monday, December 15th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.00.

ABB Trading Down 0.3%

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 company has a fifty day moving average of $72.15 and a two-hundred day moving average of $67.98. The stock has a market capitalization of $138.26 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24.

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.