Associated British Foods (OTCMKTS:ASBFY) Downgraded to Strong Sell Rating by Royal Bank Of Canada

Royal Bank Of Canada downgraded shares of Associated British Foods (OTCMKTS:ASBFY) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Zacks Research downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Jefferies Financial Group downgraded shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Finally, Sanford C. Bernstein downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Associated British Foods Stock Down 1.2%

Shares of Associated British Foods stock opened at $25.68 on Monday. The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $25.55 and a two-hundred day simple moving average of $27.30. Associated British Foods has a one year low of $23.36 and a one year high of $31.96.

About Associated British Foods

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.