ABB (NYSE:ABBNY) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of ABB (NYSE:ABBNY) from a buy rating to a hold rating in a research note published on Saturday morning.

Other analysts have also recently issued reports about the company. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Zacks Research upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a research report on Thursday, January 15th. Evercore started coverage on shares of ABB in a report on Monday, December 15th. They issued a “hold” rating on the stock. Finally, Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Three equities 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. According to MarketBeat, ABB presently has an average rating of “Hold” and an average price target of $58.00.

ABB Price Performance

NYSE:ABBNY opened at $82.21 on Friday. The business’s 50-day moving average is $85.95 and its 200 day moving average is $77.49. ABB has a 12 month low of $45.36 and a 12 month high of $93.40. The company has a market capitalization of $151.59 billion, a P/E ratio of 38.78, a P/E/G ratio of 2.48 and a beta of 1.28. 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.