ABB (NYSE:ABBNY) Shares Cross Above 200 Day Moving Average – Here’s Why

ABB Ltd (NYSE:ABBNY) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.31 and traded as high as $56.29. ABB shares last traded at $56.11, with a volume of 308,079 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Citigroup downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Price Performance

The company’s 50-day moving average price is $56.73 and its 200-day moving average price is $55.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.92. The company has a market cap of $104.40 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.87 and a beta of 1.16.

ABB (NYSE:ABBNY) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.04). ABB had a return on equity of 27.58% and a net margin of 11.90%. The company had revenue of $8.15 billion for the quarter. As a group, sell-side analysts predict that ABB Ltd will post 2.13 earnings per share for the current fiscal year.

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.