Associated British Foods (LON:ABF) Earns “Buy” Rating from Shore Capital

Associated British Foods (LON:ABFGet Free Report)‘s stock had its “buy” rating reissued by Shore Capital in a research report issued on Tuesday, MarketBeat Ratings reports.

Several other research firms also recently issued reports on ABF. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Associated British Foods in a research note on Tuesday, July 18th. Royal Bank of Canada raised Associated British Foods to an “outperform” rating and upped their target price for the stock from GBX 2,150 ($26.91) to GBX 2,250 ($28.16) in a research report on Tuesday, May 16th. Finally, Citigroup reissued a “neutral” rating and issued a GBX 2,000 ($25.03) price target on shares of Associated British Foods in a research report on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 2,075 ($25.97).

Get Our Latest Stock Report on Associated British Foods

Associated British Foods Stock Up 5.5 %

Shares of ABF stock traded up GBX 110 ($1.38) on Tuesday, hitting GBX 2,111 ($26.42). The company’s stock had a trading volume of 1,155,405 shares, compared to its average volume of 968,767. The company has a debt-to-equity ratio of 33.61, a current ratio of 1.89 and a quick ratio of 0.93. The stock has a market capitalization of £16.22 billion, a price-to-earnings ratio of 2,221.05, a P/E/G ratio of 1.58 and a beta of 1.24. Associated British Foods has a fifty-two week low of GBX 1,223 ($15.30) and a fifty-two week high of GBX 2,167 ($27.12). The firm’s fifty day moving average price is GBX 2,010.11 and its 200-day moving average price is GBX 1,966.69.

Insider Transactions at Associated British Foods

In other news, insider Eoin Tonge sold 45,355 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of GBX 2,007 ($25.12), for a total value of £910,274.85 ($1,139,125.08). Corporate insiders own 56.67% of the company’s stock.

Associated British Foods Company Profile

(Get Free Report)

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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Analyst Recommendations for Associated British Foods (LON:ABF)

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