ABB (NYSE:ABBNY) Stock Crosses Above 200 Day Moving Average – Here’s Why

ABB Ltd (NYSE:ABBNY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $55.88 and traded as high as $57.06. ABB shares last traded at $57.05, with a volume of 210,719 shares.

Analyst Ratings Changes

Several research 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 downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Citigroup cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Trading Up 3.3 %

The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The company has a market cap of $106.15 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.31 and a beta of 1.15. The firm has a 50 day moving average price of $55.79 and a two-hundred day moving average price of $55.88.

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.