ABB (NYSE:ABBNY) Reaches New 52-Week High – Time to Buy?

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

Wall Street Analyst Weigh In

ABBNY has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded ABB from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein cut shares of ABB from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Finally, Citigroup cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

ABB Stock Performance

The firm has a 50 day simple moving average of $55.98 and a 200-day simple moving average of $55.96. The company has a market cap of $110.59 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 2.46 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.92.

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.