ABB (NYSE:ABBNY) Reaches New 1-Year High – Still a Buy?

ABB Ltd (NYSE:ABBNY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $103.31 and last traded at $103.0580, with a volume of 227205 shares trading hands. The stock had previously closed at $99.65.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ABBNY shares. Zacks Research lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Kepler Capital Markets lowered ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised shares of ABB from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Barclays upgraded ABB from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of ABB in a report on Wednesday. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $58.00.

ABB Stock Performance

The business has a fifty day simple moving average of $89.22 and a two-hundred day simple moving average of $81.05. 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 company has a market cap of $187.93 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.48 and a beta of 1.36.

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.