ABB (NYSE:ABBNY) Sets New 52-Week High - Here's Why

Key Points

• ABB Ltd's shares reached a new 52-week high at $67.39 during trading, closing at $67.22 with a volume of 41,023 shares.
• The stock has recently faced several analyst downgrades, with ratings ranging from "strong-buy" to "hold," leaving the consensus rating at "Hold."
• ABB has a market cap of $123.36 billion and a PE ratio of 31.56, reflecting its performance in providing electrification, motion, and automation solutions globally.

Shares of ABB Ltd (NYSE:ABBNY - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $67.39 and last traded at $67.22, with a volume of 41023 shares changing hands. The stock had previously closed at $67.20.

Analyst Upgrades and Downgrades

ABBNY has been the subject of a number of recent analyst reports. Kepler Capital Markets downgraded shares of ABB from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Barclays restated an "underweight" rating on shares of ABB in a research note on Tuesday, July 15th. Cfra Research cut shares of ABB from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 21st. 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 upgraded shares of ABB from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold".

ABB Stock Down 0.4%

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 cap of $123.36 billion, a PE ratio of 31.56, a P/E/G ratio of 2.48 and a beta of 1.14. The business's 50-day simple moving average is $61.32 and its 200 day simple moving average is $56.76.

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.

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