Shore Capital Reiterates Buy Rating for Associated British Foods (LON:ABF)

Associated British Foods (LON:ABF)‘s stock had its “buy” rating reissued by stock analysts at Shore Capital in a research note issued on Tuesday, LSE.Co.UK reports.

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of Associated British Foods to a “sell” rating and reduced their price target for the stock from GBX 2,290 ($30.11) to GBX 2,190 ($28.80) in a research report on Tuesday, August 27th.

Associated British Foods Price Performance

LON ABF traded up GBX 13 ($0.17) on Tuesday, hitting GBX 2,496 ($32.82). The company had a trading volume of 224,493 shares, compared to its average volume of 988,457. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93. The company’s fifty day moving average price is GBX 2,476.28 and its 200-day moving average price is GBX 2,486.57. The company has a market capitalization of £18.46 billion, a PE ratio of 1,608.39, a PEG ratio of 0.87 and a beta of 1.24. Associated British Foods has a 12-month low of GBX 1,907.50 ($25.08) and a 12-month high of GBX 2,770.66 ($36.43).

Insiders Place Their Bets

In other Associated British Foods news, insider Dame Heather Rabbatts acquired 395 shares of the business’s stock in a transaction on Monday, June 24th. The stock was bought at an average price of GBX 2,512 ($33.03) per share, for a total transaction of £9,922.40 ($13,047.21). 57.88% of the stock is currently owned by corporate insiders.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.