Shore Capital reiterated their buy rating on shares of Associated British Foods (LON:ABF - Free Report) in a report published on Tuesday morning, Marketbeat Ratings reports.
Separately, Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a sell rating and reduced their price objective for the stock from GBX 2,290 ($30.11) to GBX 2,190 ($28.80) in a research note on Tuesday, August 27th.
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Associated British Foods Stock Performance
Shares of LON ABF traded up GBX 13 ($0.17) during midday trading on Tuesday, hitting GBX 2,496 ($32.82). 311,505 shares of the stock traded hands, compared to its average volume of 988,966. The firm has a 50-day moving average of GBX 2,476.24 and a two-hundred day moving average of GBX 2,488.05. The firm has a market capitalization of £18.46 billion, a P/E ratio of 1,610.32, a PEG ratio of 0.87 and a beta of 1.24. The company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79. Associated British Foods has a one year low of GBX 1,907.50 ($25.08) and a one year high of GBX 2,770.66 ($36.43).
Insider Buying and Selling at Associated British Foods
In related news, insider Dame Heather Rabbatts acquired 395 shares of the company's stock in a transaction on Monday, June 24th. The stock was acquired at an average price of GBX 2,512 ($33.03) per share, with a total value of £9,922.40 ($13,047.21). Insiders own 57.88% of the company's stock.
About Associated British Foods
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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.
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