Associated British Foods (LON:ABF) Cut to Underperform at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Associated British Foods (LON:ABF) to an underperform rating in a report issued on Monday morning, MarketBeat reports. They currently have GBX 1,850 price target on the stock, down from their prior price target of GBX 2,050.

A number of other equities research analysts have also weighed in on ABF. Jefferies Financial Group reissued an “underperform” rating and set a GBX 1,650 target price on shares of Associated British Foods in a report on Friday, January 9th. Shore Capital Group reaffirmed a “hold” rating on shares of Associated British Foods in a research note on Friday, March 27th. Citigroup cut their price target on shares of Associated British Foods from GBX 1,830 to GBX 1,710 and set a “sell” rating on the stock in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating on the stock in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. lowered their target price on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating for the company in a research report on Friday, January 9th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of GBX 1,793.

Associated British Foods Stock Performance

Associated British Foods stock opened at GBX 1,828.50 on Monday. The business has a 50 day moving average of GBX 1,894.32 and a 200-day moving average of GBX 2,026.71. Associated British Foods has a 1 year low of GBX 1,729.45 and a 1 year high of GBX 2,359. The company has a debt-to-equity ratio of 33.33, a current ratio of 1.54 and a quick ratio of 0.93. The company has a market capitalization of £12.86 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.51 and a beta of 0.84.

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.