ABB (OTCMKTS:ABBNY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of ABB Ltd (OTCMKTS:ABBNY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $97.04 and traded as high as $99.56. ABB shares last traded at $98.75, with a volume of 128,635 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ABBNY. Zacks Research cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Dnb Carnegie upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Wall Street Zen cut shares of ABB from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research report on Tuesday, July 21st. Finally, Pareto Securities upgraded ABB from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ABB currently has a consensus rating of “Hold” and an average target price of $58.00.

ABB Stock Performance

The stock has a 50 day moving average of $101.58 and a 200 day moving average of $97.04. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 0.40. The firm has a market cap of $180.04 billion, a price-to-earnings ratio of 35.65, a P/E/G ratio of 1.46 and a beta of 1.36.

ABB (OTCMKTS:ABBNY) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.13). The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.34 billion. ABB had a return on equity of 31.25% and a net margin of 13.86%. As a group, analysts anticipate that ABB Ltd will post 3.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in ABB stock. North Star Asset Management Inc. acquired a new stake in shares of ABB Ltd (OTCMKTS:ABBNY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. 1.06% of the stock is owned by institutional investors.

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.