Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Down 98.4% in July

Associated British Foods PLC (OTCMKTS:ASBFY) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 8,786 shares, a decline of 98.4% from the June 30th total of 542,176 shares. Based on an average daily volume of 246,290 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

ASBFY has been the subject of several analyst reports. Royal Bank Of Canada cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Zacks Research lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Associated British Foods Price Performance

Shares of ASBFY opened at $26.59 on Friday. Associated British Foods has a one year low of $23.36 and a one year high of $31.96. The stock has a 50-day moving average of $25.81 and a 200-day moving average of $25.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51.

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.