Associated British Foods (OTCMKTS:ASBFY) Rating Lowered to Strong Sell at Royal Bank Of Canada

Associated British Foods (OTCMKTS:ASBFY) was downgraded by equities researchers at Royal Bank Of Canada from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on ASBFY. Zacks Research downgraded Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Sanford C. Bernstein downgraded Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. The Goldman Sachs Group downgraded Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, Jefferies Financial Group downgraded Associated British Foods from a “hold” rating to an “underperform” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Associated British Foods Stock Performance

Shares of ASBFY opened at $25.67 on Monday. The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $25.55 and a 200-day moving average price of $27.29. Associated British Foods has a 12-month low of $23.36 and a 12-month 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.