ABB (NYSE:ABBNY) Share Price Passes Above 200-Day Moving Average – What’s Next?

ABB Ltd (NYSE:ABBNY)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $67.80 and traded as high as $74.36. ABB shares last traded at $74.36, with a volume of 137,855 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABBNY. Evercore ISI started coverage on shares of ABB in a research note on Monday, December 15th. They issued a “hold” rating on the stock. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, BNP Paribas began coverage on shares of ABB in a research report on Tuesday, September 30th. They set an “underperform” rating and a $58.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, ABB has an average rating of “Hold” and a consensus price target of $58.00.

ABB Stock Performance

The firm’s 50 day moving average price is $72.09 and its two-hundred day moving average price is $67.80. The firm has a market cap of $137.11 billion, a PE ratio of 35.08, a PEG ratio of 2.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37.

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.