Associated British Foods PLC (OTCMKTS:ASBFY) Given Consensus Recommendation of “Reduce” by Analysts

Associated British Foods PLC (OTCMKTS:ASBFY) has been assigned an average rating of “Reduce” from the six brokerages that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating on the company.

ASBFY has been the subject of several research reports. Zacks Research cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada downgraded Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th.

Associated British Foods Stock Performance

OTCMKTS ASBFY traded up $0.83 during midday trading on Tuesday, hitting $26.48. The company had a trading volume of 16,843 shares, compared to its average volume of 139,170. The firm has a fifty day simple moving average of $25.21 and a two-hundred day simple moving average of $25.81. Associated British Foods has a fifty-two week low of $23.36 and a fifty-two week high of $31.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51.

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.