ABB (NYSE:ABBNY) Stock Passes Above 200 Day Moving Average – Should You Sell?

ABB Ltd (NYSE:ABBNY) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $77.29 and traded as high as $80.65. ABB shares last traded at $80.48, with a volume of 311,945 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of ABB in a report on Thursday, January 15th. Zacks Research raised ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 17th. Evercore initiated coverage on ABB in a research note on Monday, December 15th. They issued a “hold” rating on the stock. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen downgraded ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Three equities research 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’s stock. According to MarketBeat, ABB currently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Trading Up 4.4%

The business’s 50 day moving average price is $85.55 and its 200-day moving average price is $77.29. 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 company has a market cap of $148.40 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 2.48 and a beta of 1.24.

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.