ABB (NYSE:ABBNY) Sets New 12-Month High – Time to Buy?

ABB Ltd (NYSE:ABBNY) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $108.0480 and last traded at $107.97, with a volume of 9882 shares traded. The stock had previously closed at $106.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded ABB from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Barclays raised shares of ABB from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Royal Bank Of Canada restated a “sector perform” rating on shares of ABB in a research note on Wednesday, May 6th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ABB in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ABB has an average rating of “Hold” and a consensus price target of $58.00.

ABB Stock Down 2.0%

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 stock has a market capitalization of $193.62 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 2.48 and a beta of 1.36. The firm’s fifty day moving average is $94.32 and its 200-day moving average is $84.22.

ABB Company Profile

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.