ABB (NYSE:ABBNY) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of ABB Ltd (NYSE:ABBNY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $69.84 and traded as high as $77.01. ABB shares last traded at $76.36, with a volume of 164,993 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Zacks Research cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Evercore ISI began coverage on shares of ABB in a research report on Monday, December 15th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of ABB in a research note on Thursday. Sanford C. Bernstein upgraded ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Finally, BNP Paribas began coverage on ABB in a research report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, ABB has a consensus rating of “Hold” and a consensus price target of $58.00.

ABB Trading Up 1.5%

The business’s 50 day simple moving average is $72.74 and its two-hundred day simple moving average is $69.84. The stock has a market cap of $140.80 billion, a P/E ratio of 36.02, a PEG ratio of 2.48 and a beta of 1.23. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44.

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.