ABB (NYSE:ABBNY) Raised to “Hold” at Sanford C. Bernstein

ABB (NYSE:ABBNY) was upgraded by stock analysts at Sanford C. Bernstein from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Evercore ISI started coverage on shares of ABB in a research report on Monday, December 15th. They set a “hold” rating for the company. BNP Paribas started coverage on ABB in a research note on Tuesday, September 30th. They issued an “underperform” rating and a $58.00 price objective for the company. Finally, Zacks Research cut ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, ABB has an average rating of “Hold” and an average target price of $58.00.

ABB Price Performance

ABB stock opened at $74.01 on Wednesday. The company has a market cap of $136.47 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 2.48 and a beta of 1.23. ABB has a one year low of $45.36 and a one year high of $77.50. The business has a fifty day moving average of $72.37 and a two-hundred day moving average of $69.21. 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.