ABB (NYSE:ABBNY) Sets New 12-Month High - Still a Buy?

Key Points

• ABB Ltd reached a new 52-week high of $71.75, closing at $71.73 with a significant trading volume of over 116,600 shares.
• Analyst ratings for ABB vary, with Citigroup upgrading it to a "strong-buy", while Barclays maintains an "underweight" rating, and overall the stock holds an average rating of "Hold".
• The company has a market cap of $132.36 billion and demonstrates healthy liquidity ratios, indicating solid financial health.

ABB Ltd (NYSE:ABBNY - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $71.75 and last traded at $71.73, with a volume of 116614 shares changing hands. The stock had previously closed at $70.66.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBNY. Citigroup raised ABB from a "hold" rating to a "strong-buy" rating in a report on Monday, July 21st. Barclays restated an "underweight" rating on shares of ABB in a research note on Tuesday, July 15th. Kepler Capital Markets downgraded ABB from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen downgraded ABB from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, ABB has an average rating of "Hold".

ABB Stock Up 1.6%

The firm has a 50-day moving average price of $66.91 and a 200 day moving average price of $59.31. 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 company has a market cap of $132.36 billion, a price-to-earnings ratio of 33.86, a P/E/G ratio of 2.48 and a beta of 1.18.

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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