Shares of Associated British Foods plc (LON:ABF – Get Rating) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 1,813.33 ($21.44).
ABF has been the subject of several analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 1,630 ($19.27) target price on shares of Associated British Foods in a research note on Wednesday, November 9th. Jefferies Financial Group downgraded Associated British Foods to a “hold” rating and cut their target price for the stock from GBX 2,000 ($23.65) to GBX 1,500 ($17.74) in a research note on Tuesday, September 6th. Barclays upped their price target on Associated British Foods from GBX 1,500 ($17.74) to GBX 1,700 ($20.10) and gave the stock an “equal weight” rating in a report on Wednesday, November 9th. Shore Capital restated a “buy” rating on shares of Associated British Foods in a report on Tuesday, November 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Associated British Foods from GBX 1,575 ($18.62) to GBX 1,600 ($18.92) and gave the company a “hold” rating in a report on Wednesday, November 9th.
Associated British Foods Stock Down 0.4 %
Associated British Foods stock opened at GBX 1,576 ($18.64) on Friday. The company has a quick ratio of 0.93, a current ratio of 1.93 and a debt-to-equity ratio of 33.66. Associated British Foods has a 52 week low of GBX 1,223 ($14.46) and a 52 week high of GBX 2,181 ($25.79). The business’s 50-day moving average price is GBX 1,368.31 and its 200 day moving average price is GBX 1,523.75. The firm has a market cap of £12.48 billion and a price-to-earnings ratio of 1,778.65.
Associated British Foods Increases Dividend
About Associated British Foods
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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