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

Associated British Foods plc (LON:ABF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,069.13 ($27.71) and traded as high as GBX 2,194 ($29.39). Associated British Foods shares last traded at GBX 2,185 ($29.27), with a volume of 711,804 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABF. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a report on Monday, August 18th. Deutsche Bank Aktiengesellschaft downgraded Associated British Foods to a “sell” rating and cut their price target for the company from GBX 2,220 to GBX 2,130 in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Associated British Foods presently has an average rating of “Hold” and an average target price of GBX 2,215.

Associated British Foods Stock Down 0.2%

The firm has a fifty day simple moving average of GBX 2,181.51 and a 200-day simple moving average of GBX 2,069.13. The firm has a market cap of £15.59 billion, a price-to-earnings ratio of 1,232.37, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78.

Insider Transactions at Associated British Foods

In other Associated British Foods news, insider Eoin Tonge sold 16,741 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total transaction of £346,538.70. 1.47% of the stock is owned by corporate insiders.

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.