ABB (NYSE:ABBNY) Reaches New 12-Month High - What's Next?

Key Points

• ABB shares hit a new 52-week high, trading as high as $98.42 (last $97.85) on Thursday and were up about 4.3% on the session with roughly 191,660 shares changing hands.
• Analyst sentiment is mixed: the consensus rating is "Hold" (1 Strong Buy, 5 Hold, 2 Sell) and the average price target of $58.00 remains far below the current share price.
• Key fundamentals include a market cap of $180.4B, P/E of 46.16, and 50- and 200-day moving averages of $87.47 and $79.30 respectively, reflecting a recent rally above longer-term trends.

ABB Ltd (NYSE:ABBNY - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $98.42 and last traded at $97.85, with a volume of 191660 shares. The stock had previously closed at $93.86.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ABBNY shares. Kepler Capital Markets raised ABB from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 27th. Wall Street Zen raised ABB from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Citigroup cut ABB from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Zacks Research cut ABB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of ABB in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ABB has a consensus rating of "Hold" and an average price target of $58.00.

ABB Trading Up 4.3%

The company has a fifty day simple moving average of $87.47 and a 200-day simple moving average of $79.30. 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 stock has a market cap of $180.43 billion, a price-to-earnings ratio of 46.16, a P/E/G ratio of 2.48 and a beta of 1.28.

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.

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