ABB (NYSE:ABBNY) Lowered to Hold Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of ABB (NYSE:ABBNY – Free Report) from a buy rating to a hold rating in a report released on Saturday.

Several other equities research analysts also recently commented on the company. Citigroup reiterated a “neutral” rating on shares of ABB in a report on Thursday, April 23rd. Zacks Research cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research note on Wednesday. Kepler Capital Markets cut shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a “sell” rating to a “hold” rating in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ABB presently has an average rating of “Reduce” and an average target price of $58.00.

Read Our Latest Stock Analysis on ABB

ABB Stock Up 3.3%

ABB stock opened at $106.50 on Friday. ABB has a 12 month low of $54.06 and a 12 month high of $106.63. The stock has a fifty day simple moving average of $89.22 and a two-hundred day simple moving average of $81.05. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market cap of $194.17 billion, a price-to-earnings ratio of 50.24, a PEG ratio of 2.48 and a beta of 1.36.

ABB Company Profile

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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.

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