Associated British Foods (LON:ABF) Stock Passes Above 200 Day Moving Average of $1,607.81

Associated British Foods plc (LON:ABF – Get Rating) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,607.81 ($19.60) and traded as high as GBX 2,029.34 ($24.73). Associated British Foods shares last traded at GBX 1,948 ($23.74), with a volume of 1,722,495 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABF. Citigroup increased their price target on shares of Associated British Foods from GBX 1,400 ($17.06) to GBX 1,900 ($23.16) and gave the company a “neutral” rating in a report on Monday, February 13th. Barclays increased their price target on shares of Associated British Foods from GBX 2,000 ($24.38) to GBX 2,300 ($28.03) and gave the company an “equal weight” rating in a report on Tuesday, February 28th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,750 ($21.33) price target on shares of Associated British Foods in a report on Tuesday, February 28th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a report on Monday, February 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Associated British Foods from GBX 1,680 ($20.48) to GBX 1,760 ($21.45) and gave the company a “neutral” rating in a research report on Tuesday, February 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Associated British Foods currently has a consensus rating of “Hold” and an average target price of GBX 1,976.67 ($24.09).

Associated British Foods Stock Down 3.4 %

The firm has a market cap of £15.26 billion, a price-to-earnings ratio of 2,188.76, a P/E/G ratio of 1.52 and a beta of 1.24. The firm’s fifty day moving average is GBX 1,895.17 and its two-hundred day moving average is GBX 1,607.81. The company has a debt-to-equity ratio of 33.66, a current ratio of 1.93 and a quick ratio of 0.93.

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, 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.