Associated British Foods (OTCMKTS:ASBFY) Shares Gap Up – Still a Buy?

Associated British Foods PLC (OTCMKTS:ASBFY) gapped up prior to trading on Friday . The stock had previously closed at $28.59, but opened at $29.61. Associated British Foods shares last traded at $28.6550, with a volume of 834 shares trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on ASBFY. Kepler Capital Markets raised shares of Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Jefferies Financial Group cut shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Finally, Zacks Research downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Associated British Foods Stock Up 0.4%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. The firm has a 50-day moving average price of $28.97 and a 200-day moving average price of $29.07.

About Associated British Foods

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.