Associated British Foods PLC (OTCMKTS:ASBFY) Receives Consensus Recommendation of “Reduce” from Brokerages

Associated British Foods PLC (OTCMKTS:ASBFY) has been given an average rating of “Reduce” by the six research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a strong buy recommendation on the company.

A number of brokerages recently commented on ASBFY. Sanford C. Bernstein lowered Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Zacks Research lowered Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th.

Associated British Foods Stock Up 0.5%

Shares of OTCMKTS ASBFY opened at $25.11 on Thursday. The business has a fifty day simple moving average of $25.41 and a 200 day simple moving average of $27.18. 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 one year low of $23.36 and a one year high of $31.96.

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.