Zacks Research Downgrades ABB (OTCMKTS:ABBNY) to Hold

ABB (OTCMKTS:ABBNY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. Barclays upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft raised ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Berenberg Bank upgraded ABB to a “hold” rating in a report on Monday, June 1st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded ABB from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $58.00.

ABB Stock Down 3.4%

ABBNY opened at $105.97 on Monday. The company has a market cap of $193.20 billion, a P/E ratio of 38.96, a P/E/G ratio of 1.79 and a beta of 1.36. ABB has a 12 month low of $56.59 and a 12 month high of $110.20. The business’s 50-day moving average price is $102.72 and its 200-day moving average price is $88.95. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.