Associated British Foods PLC (OTCMKTS:ASBFY) Receives Average Rating of “Hold” from Analysts

Associated British Foods PLC (OTCMKTS:ASBFY) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a strong buy recommendation on the company.

Several research analysts have weighed in on the stock. Jefferies Financial Group lowered shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. The Goldman Sachs Group cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Kepler Capital Markets raised Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Sanford C. Bernstein cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Zacks Research upgraded Associated British Foods from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd.

Associated British Foods Trading Down 0.2%

Shares of OTCMKTS:ASBFY opened at $25.64 on Wednesday. The company has a fifty day simple moving average of $26.66 and a 200 day simple moving average of $28.16. 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 12-month low of $23.62 and a 12-month 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.