ABB (NYSE:ABBNY) Sees Strong Trading Volume - Time to Buy?

ABB Ltd (NYSE:ABBNY - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 608,055 shares were traded during mid-day trading, an increase of 117% from the previous session's volume of 280,439 shares.The stock last traded at $59.43 and had previously closed at $58.94.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABBNY shares. Dnb Nor Markets upgraded shares of ABB from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 1st. Cfra Research cut ABB from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Kepler Capital Markets cut ABB from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ABB has an average rating of "Hold".

ABB Stock Down 1.1%

The firm has a 50-day moving average of $57.40 and a two-hundred day moving average of $55.22. 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 has a market capitalization of $110.61 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.48 and a beta of 1.15.

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.