ABB (NYSE:ABBNY) Shares Pass Above 200 Day Moving Average - Here's Why

Shares of ABB Ltd (NYSE:ABBNY - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.04 and traded as high as $57.13. ABB shares last traded at $56.79, with a volume of 347,530 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Cfra Research downgraded ABB from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 21st. Kepler Capital Markets cut ABB from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, Dnb Nor Markets upgraded ABB from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold".

ABB Trading Down 1.4%

The company has a market cap of $105.66 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.48 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $55.75 and a two-hundred day moving average price of $55.04.

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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