Associated British Foods (LON:ABF) Given Hold Rating at Deutsche Bank Aktiengesellschaft

Associated British Foods (LON:ABFGet Rating)‘s stock had its “hold” rating reissued by Deutsche Bank Aktiengesellschaft in a research note issued to investors on Tuesday, Digital Look reports. They currently have a GBX 1,900 ($23.27) price objective on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 17.36% from the company’s previous close.

A number of other research analysts also recently issued reports on ABF. Barclays raised their price target on shares of Associated British Foods from GBX 1,647 ($20.17) to GBX 2,300 ($28.17) and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating on shares of Associated British Foods in a report on Wednesday, May 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 1,850 ($22.66) price objective on shares of Associated British Foods in a report on Monday, May 30th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a report on Monday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 2,224 ($27.24).

ABF stock opened at GBX 1,619 ($19.83) on Tuesday. The stock’s 50 day moving average is GBX 1,634.75 and its two-hundred day moving average is GBX 1,798.85. Associated British Foods has a 52-week low of GBX 1,462.50 ($17.91) and a 52-week high of GBX 2,364 ($28.96). The company has a market capitalization of £12.82 billion and a PE ratio of 16.15. The company has a quick ratio of 1.15, a current ratio of 1.99 and a debt-to-equity ratio of 37.25.

In related news, insider Graham Allan purchased 2,200 shares of the stock in a transaction on Tuesday, April 26th. The shares were bought at an average price of GBX 1,560 ($19.11) per share, for a total transaction of £34,320 ($42,038.22).

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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