ABB (NYSE:ABBNY) Reaches New 1-Year High – Should You Buy?

ABB Ltd (NYSE:ABBNY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $88.88 and last traded at $88.88, with a volume of 43359 shares trading hands. The stock had previously closed at $86.73.

Analyst Ratings Changes

Several research firms have recently weighed in on ABBNY. Sanford C. Bernstein raised shares of ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Zacks Research lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a report on Thursday, January 15th. Evercore initiated coverage on ABB in a research report on Monday, December 15th. They set a “hold” rating on the stock. Finally, Wall Street Zen upgraded shares of ABB from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.00.

ABB Price Performance

The stock’s 50-day moving average is $76.39 and its two-hundred day moving average is $72.21. The company has a market capitalization of $164.72 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 2.48 and a beta of 1.25. 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.