ABB (OTCMKTS:ABBNY) Shares Cross Above 200 Day Moving Average – Time to Sell?

ABB Ltd (OTCMKTS:ABBNY)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $97.04 and traded as high as $99.56. ABB shares last traded at $98.75, with a volume of 128,635 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen restated a “hold” rating on shares of ABB in a research report on Tuesday, June 30th. Wall Street Zen downgraded ABB from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating on shares of ABB in a report on Tuesday, July 21st. Dnb Carnegie raised shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Pareto Securities upgraded shares of ABB from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Stock Performance

The company has a market cap of $180.04 billion, a price-to-earnings ratio of 35.65, a P/E/G ratio of 1.46 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.43. The company has a fifty day moving average of $101.58 and a two-hundred day moving average of $97.04.

ABB (OTCMKTS:ABBNY) last issued its earnings results on Thursday, July 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.13). The firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.34 billion. ABB had a return on equity of 31.25% and a net margin of 13.86%. Equities research analysts anticipate that ABB Ltd will post 3.78 EPS for the current year.

Hedge Funds Weigh In On ABB

A hedge fund recently bought a new stake in ABB stock. North Star Asset Management Inc. purchased a new position in shares of ABB Ltd (OTCMKTS:ABBNY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,205 shares of the industrial products company’s stock, valued at approximately $240,000. 1.06% of the stock is currently owned by hedge funds and other institutional investors.

ABB Company Profile

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.