Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Up 2,117.0% in March

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 109,584 shares, an increase of 2,117.0% from the March 15th total of 4,943 shares. Based on an average daily trading volume, of 232,603 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s shares are sold short.

Associated British Foods Trading Up 1.4%

OTCMKTS ASBFY opened at $25.99 on Friday. The stock’s 50 day moving average price is $25.56 and its two-hundred day moving average price is $27.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. Associated British Foods has a 52 week low of $23.36 and a 52 week high of $31.96.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group cut Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Sanford C. Bernstein cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, Zacks Research cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. One equities 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 currently has an average rating of “Hold”.

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.