Associated British Foods plc (OTCMKTS:ASBFY) Receives Average Recommendation of “Hold” from Brokerages

Associated British Foods plc (OTCMKTS:ASBFY – Get Rating) has earned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $1,900.00.

ASBFY has been the subject of several research analyst reports. HSBC upgraded Associated British Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, March 1st. Morgan Stanley upgraded Associated British Foods from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 2nd. Deutsche Bank Aktiengesellschaft upgraded Associated British Foods from a “hold” rating to a “buy” rating in a research note on Monday, January 23rd. The Goldman Sachs Group upgraded Associated British Foods from a “sell” rating to a “neutral” rating in a research note on Thursday, December 1st. Finally, Citigroup boosted their price target on Associated British Foods from GBX 1,400 ($16.84) to GBX 1,900 ($22.85) in a research note on Monday, February 13th.

Associated British Foods Stock Performance

OTCMKTS:ASBFY opened at $24.32 on Thursday. Associated British Foods has a twelve month low of $13.50 and a twelve month high of $24.78. The stock’s 50 day moving average price is $22.87 and its two-hundred day moving average price is $19.09. The company has a quick ratio of 1.13, a current ratio of 1.93 and a debt-to-equity ratio of 0.30.

Associated British Foods Increases Dividend

The company also recently announced a dividend, which was paid on Monday, January 30th. Shareholders of record on Friday, December 16th were issued a $0.2962 dividend. This represents a yield of 2.12%. The ex-dividend date was Thursday, December 15th. This is a boost from Associated British Foods’s previous dividend of $0.14.

About Associated British Foods

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Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. It operates through the following business segments: Grocery, Sugar, Agriculture, Ingredients and Retail. The Grocery segment produces beverages, sweeteners, vegetable oils, bread, baked goods, cereals, herbs and spices, and meat products.