Zacks Research Downgrades Associated British Foods (OTCMKTS:ASBFY) to Strong Sell

Associated British Foods (OTCMKTS:ASBFY) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. Sanford C. Bernstein cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, Royal Bank Of Canada downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Associated British Foods presently has a consensus rating of “Reduce”.

Associated British Foods Stock Up 0.3%

Shares of OTCMKTS ASBFY opened at $25.05 on Wednesday. Associated British Foods has a 1 year low of $23.36 and a 1 year high of $31.96. The stock has a fifty day moving average price of $25.20 and a two-hundred day moving average price of $27.04. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.

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.