ABB (NYSE:ABBNY) Sets New 52-Week High - Still a Buy?

Key Points

• ABB Ltd's shares have reached a new 12-month high at $71.25, with 16,030 shares traded on Wednesday, improving from a previous close of $70.15.
• Analysts have mixed ratings for ABB, with Citigroup upgrading the stock to a strong-buy while other firms have issued more conservative ratings, leading to a consensus rating of "Hold".
• The company's market capitalization stands at $131.06 billion and it has a P/E ratio of 33.53, indicating solid market interest and performance metrics.

ABB Ltd (NYSE:ABBNY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $71.25 and last traded at $71.25, with a volume of 16030 shares traded. The stock had previously closed at $70.15.

Analyst Upgrades and Downgrades

ABBNY has been the subject of several recent analyst reports. Barclays restated an "underweight" rating on shares of ABB in a report on Tuesday, July 15th. Wall Street Zen cut ABB from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Kepler Capital Markets cut ABB from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, Citigroup raised ABB from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

ABB Trading Down 0.2%

The company has a market capitalization of $131.48 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99. The firm has a fifty day moving average price of $65.78 and a 200-day moving average price of $58.73.

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.