ABB (NYSE:ABBNY) Reaches New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

ABB Price Performance

The company has a market capitalization of $168.42 billion, a P/E ratio of 43.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.25. 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 firm’s 50-day moving average is $80.26 and its 200-day moving average is $74.11.

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.