ABB (NYSE:ABBNY) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

ABB Ltd (NYSE:ABBNY)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $59.97 and traded as high as $71.94. ABB shares last traded at $71.61, with a volume of 133,561 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABBNY shares. Kepler Capital Markets cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 17th. Barclays reaffirmed an “underweight” rating on shares of ABB in a research note on Tuesday, July 15th. Wall Street Zen downgraded ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Citigroup raised ABB from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

ABB Trading Up 0.7%

The firm has a market capitalization of $132.04 billion, a price-to-earnings ratio of 33.78, a P/E/G ratio of 2.48 and a beta of 1.18. 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 firm’s 50-day simple moving average is $67.97 and its 200 day simple moving average is $59.97.

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.