ABB (NYSE:ABBNY) Hits New 52-Week High - Here's What Happened

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) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $67.39 and last traded at $67.22, with a volume of 41023 shares. The stock had previously closed at $67.20.

Wall Street Analysts Forecast Growth

ABBNY has been the subject of a number of recent research reports. Citigroup upgraded shares of ABB from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Barclays restated an "underweight" rating on shares of ABB in a research note on Tuesday, July 15th. Kepler Capital Markets lowered ABB from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Cfra Research lowered shares of ABB from a "moderate buy" rating to a "hold" rating in a report on Monday, April 21st. Finally, Wall Street Zen cut shares of ABB from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

ABB Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37. The company's fifty day simple moving average is $61.89 and its two-hundred day simple moving average is $57.00. The stock has a market capitalization of $123.17 billion, a P/E ratio of 31.51, a PEG ratio of 2.48 and a beta of 1.14.

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.