ABB (NYSE:ABBNY) Sets New 52-Week High – Still a Buy?

ABB Ltd (NYSE:ABBNY)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $108.0480 and last traded at $107.97, with a volume of 9882 shares. The stock had previously closed at $106.40.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABBNY shares. Royal Bank Of Canada restated a “sector perform” rating on shares of ABB in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upgraded ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. Kepler Capital Markets cut ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised ABB from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.00.

ABB Price Performance

The firm has a market capitalization of $197.59 billion, a PE ratio of 51.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.36. The business has a 50-day moving average of $93.38 and a 200 day moving average of $83.70. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

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.