Associated British Foods (LON:ABF) Receives “Underperform” Rating from Jefferies Financial Group

Associated British Foods (LON:ABF)‘s stock had its “underperform” rating reissued by equities research analysts at Jefferies Financial Group in a research note issued to investors on Wednesday,Digital Look reports. They currently have a GBX 1,650 price objective on the stock. Jefferies Financial Group’s price objective indicates a potential downside of 13.45% from the stock’s current price.

A number of other research firms also recently commented on ABF. Shore Capital Group restated a “hold” rating on shares of Associated British Foods in a report on Friday, April 17th. UBS Group reissued a “neutral” rating and set a GBX 2,050 target price on shares of Associated British Foods in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a report on Tuesday, May 26th. Citigroup reduced their price target on shares of Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating on the stock in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Associated British Foods presently has an average rating of “Reduce” and an average price target of GBX 1,765.

Associated British Foods Trading Down 4.0%

Shares of LON ABF traded down GBX 79.50 during trading on Wednesday, hitting GBX 1,906.50. 6,767,360 shares of the company traded hands, compared to its average volume of 13,232,239. The firm has a market capitalization of £13.34 billion, a P/E ratio of 14.31, a P/E/G 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. The company has a 50-day moving average price of GBX 1,862.68 and a 200-day moving average price of GBX 1,912.80. Associated British Foods has a 1 year low of GBX 1,729.45 and a 1 year high of GBX 2,359.

Associated British Foods (LON:ABF) last issued its earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%.The business had revenue of GBX 1,945.90 billion for the quarter. On average, equities analysts predict that Associated British Foods will post 188.0990415 EPS for the current year.

Insider Buying and Selling at Associated British Foods

In related news, insider Loraine Woodhouse bought 1,074 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was acquired at an average price of GBX 1,853 per share, for a total transaction of £19,901.22. 1.52% of the stock is owned by insiders.

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.