ABB (NYSE:ABBNY) Reaches New 1-Year High - Here's Why

Key Points

• ABB Ltd reached a new 52-week high of $74.32, with its last trade at $73.96, following an increase in trading volume.
• Equities research analysts have mixed opinions on ABB, with ratings ranging from strong-buy to underperform, leading to a consensus rating of "Hold" and an average price target of $58.00.
• ABB operates in electrification, motion, and automation solutions, providing products across various sectors including utilities, industry, and transport internationally.

ABB Ltd (NYSE:ABBNY - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $74.32 and last traded at $73.96, with a volume of 12239 shares traded. The stock had previously closed at $73.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Kepler Capital Markets cut shares of ABB from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Barclays reaffirmed an "underweight" rating on shares of ABB in a research note on Tuesday, July 15th. BNP Paribas assumed coverage on shares of ABB in a research note on Tuesday, September 30th. They issued an "underperform" rating and a $58.00 price target on the stock. Wall Street Zen cut shares of ABB from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Citigroup raised shares of ABB from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, ABB currently has a consensus rating of "Hold" and an average price target of $58.00.

ABB Stock Performance

The stock has a market capitalization of $137.03 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.20. 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's fifty day moving average is $69.51 and its 200-day moving average is $61.24.

ABB Company Profile

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.

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