Associated British Foods (LON:ABF) Given Buy Rating at Shore Capital

Associated British Foods (LON:ABFGet Rating)‘s stock had its “buy” rating restated by investment analysts at Shore Capital in a report issued on Monday, Marketbeat Ratings reports.

ABF has been the subject of a number of other research reports. Barclays dropped their price target on Associated British Foods from GBX 2,700 ($32.77) to GBX 2,500 ($30.34) and set an “overweight” rating for the company in a research report on Wednesday, April 6th. Royal Bank of Canada reissued a “sector perform” rating and set a GBX 1,850 ($22.45) price objective on shares of Associated British Foods in a report on Monday, May 30th. Morgan Stanley reissued an “equal weight” rating on shares of Associated British Foods in a report on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 2,300 ($27.92) price objective on shares of Associated British Foods in a report on Tuesday, March 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Associated British Foods has a consensus rating of “Buy” and a consensus price target of GBX 2,344 ($28.45).

Shares of ABF opened at GBX 1,630 ($19.78) on Monday. The company has a market cap of £12.90 billion and a PE ratio of 16.26. The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 37.25. The stock has a 50-day moving average price of GBX 1,634.69 and a 200-day moving average price of GBX 1,800.84. Associated British Foods has a 12-month low of GBX 1,462.50 ($17.75) and a 12-month high of GBX 2,364 ($28.69).

In related news, insider Graham Allan purchased 2,200 shares of the firm’s stock in a transaction on Tuesday, April 26th. The shares were acquired at an average cost of GBX 1,560 ($18.93) per share, with a total value of £34,320 ($41,655.54).

About Associated British Foods (Get Rating)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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