ABB (OTCMKTS:ABBNY) Sees Unusually-High Trading Volume – Still a Buy?

ABB Ltd (OTCMKTS:ABBNY) saw unusually-strong trading volume on Tuesday . Approximately 268,817 shares changed hands during trading, a decline of 23% from the previous session’s volume of 351,349 shares.The stock last traded at $105.3301 and had previously closed at $101.61.

Analyst Upgrades and Downgrades

ABBNY has been the subject of several analyst reports. Berenberg Bank raised shares of ABB to a “hold” rating in a research note on Monday, June 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of ABB in a research report on Wednesday, May 6th. Zacks Research cut ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Pareto Securities lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, TD Cowen reissued a “hold” rating on shares of ABB in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $58.00.

ABB Trading Down 0.4%

The company’s 50 day simple moving average is $105.27 and its 200 day simple moving average is $92.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.38 and a quick ratio of 1.05. The firm has a market cap of $188.75 billion, a price-to-earnings ratio of 38.06, a P/E/G ratio of 1.63 and a beta of 1.36.

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.