Associated British Foods (LON:ABF) Rating Increased to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Associated British Foods (LON:ABF) to a hold rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has GBX 2,000 price objective on the stock, down from their prior price objective of GBX 2,130.

Separately, Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research note on Thursday, September 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 2,150.

Associated British Foods Price Performance

LON ABF opened at GBX 1,995.50 on Wednesday. The business has a 50 day simple moving average of GBX 2,175.68 and a 200 day simple moving average of GBX 2,085.48. Associated British Foods has a 52-week low of GBX 1,818.87 and a 52-week high of GBX 2,440. 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 stock has a market cap of £14.20 billion, a price-to-earnings ratio of 1,125.49, a PEG ratio of 1.51 and a beta of 1.24.

Insiders Place Their Bets

In related news, insider Eoin Tonge sold 16,741 shares of the business’s stock in a transaction 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 1.49% of the company’s stock.

About Associated British Foods

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.