ABB (NYSE:ABBNY) Rating Lowered to “Hold” at Wall Street Zen

ABB (NYSE:ABBNY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently weighed in on ABBNY. Sanford C. Bernstein upgraded shares of ABB from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Zacks Research upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Evercore started coverage on shares of ABB in a research report on Monday, December 15th. They set a “hold” rating for the company. Kepler Capital Markets upgraded shares of ABB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of ABB in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $58.00.

ABB Price Performance

ABBNY opened at $82.21 on Friday. The firm has a market cap of $151.59 billion, a P/E ratio of 38.78, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37. The business has a 50 day moving average price of $85.95 and a 200 day moving average price of $77.54. ABB has a twelve month low of $45.36 and a twelve month 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.