ABB (NYSE:ABBNY) Hits New 12-Month High – Here’s What Happened

ABB Ltd (NYSE:ABBNY) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $91.69 and last traded at $91.34, with a volume of 644545 shares traded. The stock had previously closed at $89.91.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ABBNY shares. Evercore began coverage on shares of ABB in a research note on Monday, December 15th. They issued a “hold” rating on the stock. Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Wall Street Zen downgraded shares of ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Finally, Zacks Research downgraded ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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 stock has a 50 day simple moving average of $81.39 and a two-hundred day simple moving average of $74.53. The company has a market cap of $168.90 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 2.48 and a beta of 1.25.

About ABB

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.