Associated British Foods (OTCMKTS:ASBFY) Stock Crosses Below 50-Day Moving Average – What’s Next?

Associated British Foods plc (OTCMKTS:ASBFY) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $24.56 and traded as low as $24.18. Associated British Foods shares last traded at $24.35, with a volume of 12,742 shares trading hands.

Analysts Set New Price Targets

Separately, Citigroup cut shares of Associated British Foods from a “neutral” rating to a “sell” rating in a report on Thursday, January 16th.

Associated British Foods Stock Up 1.1 %

The business’s 50 day simple moving average is $24.56 and its two-hundred day simple moving average is $28.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.78.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.