Associated British Foods (LON:ABF) Sets New 12-Month Low on Analyst Downgrade

Shares of Associated British Foods plc (LON:ABF) reached a new 52-week low during mid-day trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 2,100 to GBX 1,925. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Associated British Foods traded as low as GBX 1,815 and last traded at GBX 1,820.50, with a volume of 4583594 shares. The stock had previously closed at GBX 1,859.

A number of other analysts have also issued reports on the company. Citigroup raised their price target on Associated British Foods from GBX 1,830 to GBX 1,840 and gave the stock a “sell” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. cut their price objective on shares of Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating on the stock in a report on Friday. Shore Capital cut shares of Associated British Foods to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,650 price target on shares of Associated British Foods in a research report on Friday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Associated British Foods has an average rating of “Reduce” and a consensus target price of GBX 1,931.

Insider Activity

In other Associated British Foods news, insider Eoin Tonge sold 34,818 shares of Associated British Foods stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total transaction of £732,222.54. Also, insider George G. Weston sold 43,660 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of GBX 2,103, for a total transaction of £918,169.80. Insiders own 1.50% of the company’s stock.

Associated British Foods Trading Down 2.3%

The firm has a market capitalization of £12.84 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.51 and a beta of 1.24. The business’s 50-day moving average price is GBX 2,132.80 and its 200 day moving average price is GBX 2,149.09. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93.

Associated British Foods (LON:ABF) last issued its quarterly earnings data on Tuesday, November 4th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a net margin of 7.25% and a return on equity of 13.07%. On average, equities analysts forecast that Associated British Foods plc will post 188.0990415 earnings per share for the current fiscal year.

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. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.