Associated British Foods (LON:ABF) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Associated British Foods plc (LON:ABF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 2,008.64 ($27.01) and traded as high as GBX 2,108 ($28.35). Associated British Foods shares last traded at GBX 2,077 ($27.93), with a volume of 2,179,863 shares.

Wall Street Analyst Weigh In

Separately, Shore Capital restated a “house stock” rating on shares of Associated British Foods in a report on Tuesday, May 6th.

Associated British Foods Stock Performance

The firm’s 50 day simple moving average is GBX 2,090.60 and its 200-day simple moving average is GBX 2,008.64. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78. The company has a market capitalization of £14.97 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.51 and a beta of 1.24.

Associated British Foods (LON:ABF) last posted its quarterly earnings results on Wednesday, April 30th. The company reported GBX 71 ($0.95) earnings per share for the quarter. Associated British Foods had a return on equity of 13.07% and a net margin of 7.25%. Analysts expect that Associated British Foods plc will post 188.0990415 EPS for the current year.

Associated British Foods Company Profile

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money.