ABB (OTCMKTS:ABBNY) Stock Price Passes Above 200-Day Moving Average – Here’s Why

ABB Ltd (OTCMKTS:ABBNY)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $88.17 and traded as high as $109.00. ABB shares last traded at $108.47, with a volume of 673,411 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Berenberg Bank upgraded shares of ABB to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen downgraded shares of ABB from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft raised ABB from a “sell” rating to a “hold” rating in a report on Thursday, April 23rd. Royal Bank Of Canada reissued a “sector perform” rating on shares of ABB in a research note on Wednesday, May 6th. Finally, Kepler Capital Markets cut ABB from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.00.

ABB Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.38 and a quick ratio of 1.05. The company has a market capitalization of $197.76 billion, a PE ratio of 39.88, a P/E/G ratio of 1.72 and a beta of 1.36. The stock has a 50-day simple moving average of $101.63 and a 200 day simple moving average of $88.17.

About ABB

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.