Associated British Foods (OTCMKTS:ASBFY) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Associated British Foods (OTCMKTS:ASBFY) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on ASBFY. Jefferies Financial Group lowered shares of Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. Sanford C. Bernstein cut shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, The Goldman Sachs Group lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Associated British Foods presently has an average rating of “Hold”.

Associated British Foods Stock Performance

ASBFY stock opened at $24.48 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. Associated British Foods has a 12-month low of $23.62 and a 12-month high of $31.96. The business’s fifty day moving average price is $26.16 and its 200 day moving average price is $27.90.

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.