Associated British Foods (LON:ABF) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Associated British Foods plc (LON:ABF) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,072.36 and traded as low as GBX 1,832. Associated British Foods shares last traded at GBX 1,852.50, with a volume of 53,592,910 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating for the company in a research note on Thursday, January 8th. JPMorgan Chase & Co. cut their price objective on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating on the stock in a report on Friday, January 9th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a research report on Friday, January 9th. Citigroup lowered their target price on Associated British Foods from GBX 1,830 to GBX 1,710 and set a “sell” rating for the company in a research note on Monday, January 12th. Finally, Shore Capital Group restated a “hold” rating on shares of Associated British Foods in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of GBX 1,806.25.

Associated British Foods Stock Performance

The stock has a fifty day moving average of GBX 1,943.55 and a 200-day moving average of GBX 2,072.36. The firm has a market capitalization of £13.08 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.51 and a beta of 0.89. The company has a quick ratio of 0.93, a current ratio of 1.54 and a debt-to-equity ratio of 33.33.

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. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.