ABB (NYSE:ABBNY) Cut to “Hold” at Wall Street Zen
by Tristan Rich · The Markets DailyWall Street Zen downgraded shares of ABB (NYSE:ABBNY – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.
Other analysts also recently issued research reports about the company. Kepler Capital Markets raised ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Finally, Evercore assumed coverage on ABB in a research report on Monday, December 15th. They set a “hold” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, ABB presently has an average rating of “Hold” and a consensus target price of $58.00.
Check Out Our Latest Analysis on ABBNY
ABB Stock Performance
NYSE:ABBNY opened at $82.86 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99. ABB has a 1 year low of $45.36 and a 1 year high of $93.40. The stock’s 50 day simple moving average is $86.06 and its two-hundred day simple moving average is $77.63. The company has a market cap of $152.79 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 2.48 and a beta of 1.28.
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.