Associated British Foods’ (ABF) Hold Rating Reaffirmed at Shore Capital Group

Associated British Foods (LON:ABF)‘s stock had its “hold” rating restated by Shore Capital Group in a research note issued on Tuesday, Digital Look reports. They presently have a GBX 1,910 target price on the stock. Shore Capital Group’s target price indicates a potential upside of 4.09% from the company’s previous close.

A number of other brokerages have also recently issued reports on ABF. JPMorgan Chase & Co. dropped their target price on Associated British Foods from GBX 1,700 to GBX 1,645 and set a “neutral” rating for the company in a report on Friday, September 11th. UBS Group reaffirmed a “neutral” rating and issued a GBX 2,050 price target on shares of Associated British Foods in a research note on Friday, June 26th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, July 1st. Finally, Citigroup dropped their price objective on Associated British Foods from GBX 1,550 to GBX 1,520 and set a “sector perform” rating for the company in a research note on Wednesday, September 23rd. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of GBX 1,782.14.

Associated British Foods Price Performance

ABF traded up GBX 1 during midday trading on Tuesday, reaching GBX 1,835. 638,903 shares of the company’s stock were exchanged, compared to its average volume of 9,829,070. The firm has a market capitalization of £12.81 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63. Associated British Foods has a one year low of GBX 1,729.45 and a one year high of GBX 2,359. The business has a 50-day simple moving average of GBX 1,962.77 and a two-hundred day simple moving average of GBX 1,919.18.

About Associated British Foods

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.