ABB (NYSE:ABBNY) Sets New 52-Week High – Here’s Why

Shares of ABB Ltd (NYSE:ABBNY) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $59.91 and last traded at $59.88, with a volume of 22411 shares. The stock had previously closed at $58.36.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ABBNY shares. Cfra Research cut ABB from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 21st. Kepler Capital Markets upgraded ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, Dnb Nor Markets raised shares of ABB from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

ABB Stock Up 2.7%

The company’s fifty day moving average price is $54.48 and its 200-day moving average price is $55.02. The stock has a market capitalization of $111.49 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.48 and a beta of 1.16. 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 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.