Associated British Foods plc (LON:ABF) Receives Consensus Rating of “Buy” from Analysts

Associated British Foods plc (LON:ABFGet Rating) has received an average rating of “Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is GBX 2,344 ($29.28).

A number of equities analysts recently commented on ABF shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Associated British Foods in a research note on Tuesday, April 26th. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 2,300 ($28.73) price target on shares of Associated British Foods in a research note on Tuesday, March 1st. Liberum Capital reissued a “buy” rating and issued a GBX 2,600 ($32.48) price objective on shares of Associated British Foods in a research report on Thursday, January 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Associated British Foods from GBX 2,100 ($26.23) to GBX 1,850 ($23.11) and set a “sector perform” rating for the company in a research report on Tuesday, May 3rd.

ABF stock opened at GBX 1,563.50 ($19.53) on Monday. Associated British Foods has a 12 month low of GBX 1,462.50 ($18.27) and a 12 month high of GBX 2,389 ($29.84). The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 37.25. The company has a 50-day moving average price of GBX 1,670.01 and a 200 day moving average price of GBX 1,854.20. The stock has a market cap of £12.38 billion and a PE ratio of 15.62.

The firm also recently declared a dividend, which will be paid on Friday, July 8th. Stockholders of record on Thursday, June 9th will be issued a GBX 13.80 ($0.17) dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a dividend yield of 0.85%. Associated British Foods’s dividend payout ratio is currently 0.27%.

In other Associated British Foods news, insider Graham Allan purchased 2,200 shares of Associated British Foods stock in a transaction dated Tuesday, April 26th. The stock was acquired at an average price of GBX 1,560 ($19.49) per share, for a total transaction of £34,320 ($42,873.20).

About Associated British Foods (Get Rating)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, 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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Analyst Recommendations for Associated British Foods (LON:ABF)

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