Associated British Foods plc (LON:ABF - Get Free Report) shares traded down 8.5% during mid-day trading on Thursday . The company traded as low as GBX 2,287 ($30.07) and last traded at GBX 2,289 ($30.10). 1,565,374 shares changed hands during mid-day trading, an increase of 58% from the average session volume of 988,656 shares. The stock had previously closed at GBX 2,501 ($32.89).
Analysts Set New Price Targets
ABF has been the topic of a number of recent research reports. Shore Capital reissued a "buy" rating on shares of Associated British Foods in a research note on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of Associated British Foods to a "sell" rating and cut their target price for the stock from GBX 2,290 ($30.11) to GBX 2,190 ($28.80) in a research report on Tuesday, August 27th.
Get Our Latest Research Report on ABF
Associated British Foods Price Performance
The company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79. The business has a 50 day moving average price of GBX 2,472.14 and a 200-day moving average price of GBX 2,486.76. The company has a market capitalization of £16.93 billion, a price-to-earnings ratio of 1,476.77, a P/E/G ratio of 0.87 and a beta of 1.24.
Insiders Place Their Bets
In related news, insider Dame Heather Rabbatts bought 395 shares of the company's stock in a transaction that occurred on Monday, June 24th. The shares were 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.
About Associated British Foods
(
Get Free Report)
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.
Further Reading
Before you consider Associated British Foods, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Associated British Foods wasn't on the list.
While Associated British Foods currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
