Short Interest in Associated British Foods plc (OTCMKTS:ASBFY) Increases By 6,500.0%

Associated British Foods plc (OTCMKTS:ASBFY – Get Rating) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 6,600 shares, a growth of 6,500.0% from the April 30th total of 100 shares. Based on an average trading volume of 7,700 shares, the short-interest ratio is currently 0.9 days.

Associated British Foods Trading Down 0.6 %

Shares of OTCMKTS:ASBFY opened at $22.64 on Friday. The stock has a 50-day simple moving average of $24.26 and a 200-day simple moving average of $22.39. Associated British Foods has a 1 year low of $13.50 and a 1 year high of $26.00. The company has a current ratio of 1.93, a quick ratio of 1.13 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Royal Bank of Canada upgraded Associated British Foods from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 16th. Citigroup raised their target price on shares of Associated British Foods from GBX 1,400 ($17.41) to GBX 1,900 ($23.63) in a research report on Monday, February 13th. Finally, HSBC raised shares of Associated British Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, March 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $1,875.00.

Associated British Foods Company Profile

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Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. It operates through the following business segments: Grocery, Sugar, Agriculture, Ingredients and Retail. The Grocery segment produces beverages, sweeteners, vegetable oils, bread, baked goods, cereals, herbs and spices, and meat products.