Associated British Foods (OTCMKTS:ASBFY) Lowered to Hold Rating by Kepler Capital Markets

Associated British Foods (OTCMKTS:ASBFY) was downgraded by stock analysts at Kepler Capital Markets from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

Separately, Zacks Research upgraded Associated British Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Associated British Foods presently has an average rating of “Reduce”.

Associated British Foods Stock Performance

ASBFY stock opened at $24.78 on Wednesday. Associated British Foods has a one year low of $23.36 and a one year high of $31.11. The firm’s 50 day moving average price is $27.39 and its 200-day moving average price is $25.96. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.

Associated British Foods Company Profile

Associated British Foods plc is a diversified international food, ingredients, agriculture and retail group. The company operates through five principal businesses: Grocery, Ingredients, Agriculture, Sugar and Retail. Its food products include tea, coffee, cereal, bread, baking ingredients, condiments and other grocery items sold under brands such as Twinings, Ovaltine, Jordans, Ryvita, Kingsmill and Silver Spoon.

Through its ingredients operations, Associated British Foods supplies yeast, bakery ingredients and other specialty ingredients to food manufacturers and commercial bakeries.