ABB (NYSE:ABBNY) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded ABB from “buy” to “hold” in a note issued Saturday, adding to a wave of mixed analyst sentiment on the stock.
• Several firms have recently adjusted ratings on ABB, with the latest consensus from MarketBeat showing a “Reduce” rating and a $58.00 target price. Eight analysts currently rate it Hold, while one rates it Sell.
• ABB shares opened at $106.50, near their 52-week high of $106.63, and the company now carries a market value of about $194.17 billion.

ABB (NYSE:ABBNY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a "sell" rating to a "hold" rating in a report on Thursday, April 23rd. Royal Bank Of Canada restated a "sector perform" rating on shares of ABB in a report on Wednesday. Zacks Research downgraded shares of ABB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 15th. Barclays upgraded shares of ABB from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Finally, Kepler Capital Markets downgraded shares of ABB from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, ABB currently has a consensus rating of "Reduce" and a consensus target price of $58.00.

ABB Stock Performance

Shares of ABBNY opened at $106.50 on Friday. The company has a 50-day simple moving average of $89.22 and a 200-day simple moving average of $81.05. 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 company has a market capitalization of $194.17 billion, a PE ratio of 50.24, a P/E/G ratio of 2.48 and a beta of 1.36. ABB has a 52-week low of $54.06 and a 52-week high of $106.63.

About ABB

ABB Ltd. is a global engineering and technology company headquartered in Zürich, Switzerland, with roots dating to the 1988 merger of ASEA and Brown, Boveri & Cie. The company develops and supplies technologies that enable electrification, automation and digitalization across utility, industrial, transportation and infrastructure markets. ABB's offerings span hardware, software and services designed to improve efficiency, reliability and sustainability for its customers.

ABB's principal activities include electrification products and systems for power distribution and management; industrial and factory automation solutions; robotics and discrete automation for manufacturing; and motion technologies including electric motors and drives.

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