ABB (NYSE:ABBNY) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

ABB Ltd (NYSE:ABBNY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $77.29 and traded as high as $80.65. ABB shares last traded at $80.48, with a volume of 311,945 shares traded.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of several recent research reports. Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Kepler Capital Markets raised ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen cut ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Three research analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ABB has an average rating of “Hold” and a consensus price target of $58.00.

ABB Stock Down 1.4%

The firm’s 50 day simple moving average is $85.70 and its 200 day simple moving average is $77.34. The company has a market cap of $151.59 billion, a price-to-earnings ratio of 38.78, a price-to-earnings-growth ratio of 2.48 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44.

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.