Zacks Research Downgrades ABB (NYSE:ABBNY) to Hold

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

A number of other equities analysts have also weighed in on ABBNY. Sanford C. Bernstein upgraded ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a research report on Thursday, January 15th. Citigroup lowered ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Barclays upgraded ABB from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Kepler Capital Markets upgraded ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.00.

ABB Trading Up 3.9%

Shares of NYSE:ABBNY traded up $3.59 during midday trading on Wednesday, reaching $96.06. The company had a trading volume of 34,446 shares, compared to its average volume of 327,110. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37. ABB has a 1-year low of $49.58 and a 1-year high of $96.15. The firm has a market cap of $177.12 billion, a price-to-earnings ratio of 45.31, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The company has a fifty day simple moving average of $86.91 and a two-hundred day simple moving average of $78.60.

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.