ABB (NYSE:ABBNY) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

ABB Ltd (NYSE:ABBNY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $75.12 and traded as high as $86.84. ABB shares last traded at $86.34, with a volume of 327,873 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore assumed coverage on shares of ABB in a research report on Monday, December 15th. They issued a “hold” rating on the stock. Sanford C. Bernstein raised ABB from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Wall Street Zen lowered ABB from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Kepler Capital Markets upgraded ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Zacks Research cut ABB from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Three analysts have rated the stock with a Strong Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, ABB currently has a consensus rating of “Hold” and an average target price of $58.00.

ABB Stock Down 4.0%

The firm has a market cap of $159.20 billion, a P/E ratio of 40.73, a P/E/G ratio of 2.48 and a beta of 1.25. The firm’s fifty day moving average is $82.32 and its 200 day moving average is $75.12. 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.