ABB (NYSE:ABBNY) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

ABB Ltd (NYSE:ABBNY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $65.72 and traded as high as $69.17. ABB shares last traded at $69.13, with a volume of 357,751 shares.

Analysts Set New Price Targets

Several brokerages recently commented on ABBNY. Zacks Research downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. BNP Paribas assumed coverage on ABB in a research report on Tuesday, September 30th. They issued an “underperform” rating and a $58.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $58.00.

ABB Trading Up 0.8%

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 has a market cap of $127.47 billion, a P/E ratio of 32.61, a PEG ratio of 2.48 and a beta of 1.19. The company’s 50 day moving average is $71.90 and its two-hundred day moving average is $65.72.

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.