Associated British Foods (LON:ABF) Stock Passes Above 200 Day Moving Average – Time to Sell?

Associated British Foods plc (LON:ABF)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,125.28 ($28.34) and traded as high as GBX 2,303 ($30.71). Associated British Foods shares last traded at GBX 2,292 ($30.57), with a volume of 81,610,914 shares changing hands.

Wall Street Analyst Weigh In

ABF has been the topic of a number of research analyst reports. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft raised Associated British Foods to a “hold” rating and lowered their price target for the company from GBX 2,130 to GBX 2,000 in a report on Wednesday, September 24th. Finally, Citigroup upped their price target on Associated British Foods from GBX 1,770 to GBX 1,830 and gave the company a “sell” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of GBX 2,043.33.

Associated British Foods Stock Performance

The company has a market cap of £16.31 billion, a PE ratio of 12.93, a PEG ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93. The business has a 50-day moving average of GBX 2,139.88 and a 200 day moving average of GBX 2,125.28.

Associated British Foods Company Profile

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money.