ABB (NYSE:ABBNY) Sets New 1-Year High – Here’s What Happened

Shares of ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.67 and last traded at $59.63, with a volume of 84964 shares changing hands. The stock had previously closed at $59.18.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Sanford C. Bernstein downgraded ABB from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. The Goldman Sachs Group lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Citigroup lowered ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Stock Performance

The firm’s 50-day moving average price is $55.92 and its two-hundred day moving average price is $55.94. The firm has a market capitalization of $110.56 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.92 and a current ratio of 1.35.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.