Zacks Research Downgrades ABB (NYSE:ABBNY) to Hold
by Teresa Graham · The Cerbat GemABB (NYSE:ABBNY – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.
Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of ABB from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Sanford C. Bernstein raised shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Kepler Capital Markets raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 27th. Barclays raised shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of ABB in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ABB has an average rating of “Hold” and a consensus target price of $58.00.
Get Our Latest Research Report on ABB
ABB Price Performance
Shares of NYSE:ABBNY opened at $92.47 on Wednesday. The company has a market cap of $170.51 billion, a price-to-earnings ratio of 43.62, a PEG ratio of 2.48 and a beta of 1.28. 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 50 day simple moving average of $86.91 and a 200 day simple moving average of $78.60. ABB has a one year low of $49.58 and a one year high of $93.40.
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.