ABB (NYSE:ABBNY) Shares Gap Up – Should You Buy?

ABB Ltd (NYSE:ABBNY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $56.72, but opened at $58.62. ABB shares last traded at $58.27, with a volume of 15,377 shares traded.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

ABB Price Performance

The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $56.22 and its 200 day simple moving average is $53.98. The firm has a market capitalization of $109.44 billion, a P/E ratio of 29.24, a PEG ratio of 2.96 and a beta of 1.16.

ABB (NYSE:ABBNY) last issued its earnings results on Thursday, July 18th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17). ABB had a return on equity of 27.83% and a net margin of 11.77%. The firm had revenue of $8.24 billion during the quarter. Sell-side analysts forecast that ABB Ltd will post 2.14 earnings per share for the current year.

About ABB

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.