Associated British Foods PLC (OTCMKTS:ASBFY) Given Average Rating of “Hold” by Brokerages

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company.

ASBFY has been the subject of several research reports. Sanford C. Bernstein downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Zacks Research downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Jefferies Financial Group cut Associated British Foods from a “hold” rating to an “underperform” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group downgraded Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th.

Associated British Foods Trading Up 0.1%

Shares of Associated British Foods stock opened at $24.46 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.54 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $25.68 and its 200-day simple moving average is $27.44. Associated British Foods has a 52 week low of $23.36 and a 52 week high of $31.96.

Associated British Foods Company Profile

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.