ABB (NYSE:ABBNY) Sets New 12-Month High – Still a Buy?

ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $77.65 and last traded at $77.46, with a volume of 28489 shares. The stock had previously closed at $76.44.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBNY. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a report on Thursday, January 15th. Zacks Research downgraded ABB from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. BNP Paribas Exane assumed coverage on ABB in a report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price objective for the company. Finally, Evercore ISI initiated coverage on ABB in a research note on Monday, December 15th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99. The company has a fifty day moving average of $73.35 and a 200-day moving average of $70.69. The firm has a market cap of $143.36 billion, a P/E ratio of 36.67, a P/E/G ratio of 2.48 and a beta of 1.23.

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.