Associated British Foods (LON:ABF) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Associated British Foods plc (LON:ABF) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,058.23 ($27.69) and traded as high as GBX 2,328 ($31.32). Associated British Foods shares last traded at GBX 2,314 ($31.13), with a volume of 261,021 shares traded.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Associated British Foods has a consensus rating of “Hold” and a consensus target price of GBX 2,245.

Associated British Foods Price Performance

The stock’s 50-day moving average is GBX 2,166.11 and its 200 day moving average is GBX 2,058.23. The stock has a market capitalization of £15.99 billion, a PE ratio of 11.30, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 32.88.

Insider Buying and Selling

In related news, insider Eoin Tonge sold 16,741 shares of the business’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of GBX 2,070, for a total transaction of £346,538.70. Insiders own 58.08% of the company’s stock.

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.