ABB (NYSE:ABBNY) Cut to Hold at Zacks Research

Zacks Research lowered shares of ABB (NYSE:ABBNY) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on ABBNY. Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Sanford C. Bernstein raised shares of ABB from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of ABB in a research report on Thursday, January 15th. Wall Street Zen lowered shares of ABB from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Barclays raised shares of ABB from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.00.

ABB Price Performance

ABBNY stock opened at $96.29 on Wednesday. The stock’s 50 day moving average is $87.10 and its two-hundred day moving average is $78.77. ABB has a 52-week low of $49.58 and a 52-week high of $97.17. The company has a market capitalization of $177.55 billion, a PE ratio of 45.42, a P/E/G ratio of 2.48 and a beta of 1.28. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44.

ABB Company Profile

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.