Associated British Foods (LON:ABF) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Associated British Foods plc (LON:ABF) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,014.41 ($27.43) and traded as high as GBX 2,047 ($27.87). Associated British Foods shares last traded at GBX 2,044.42 ($27.83), with a volume of 829,152 shares changing hands.

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Associated British Foods in a research note on Tuesday, May 6th.

Associated British Foods Stock Down 1.2%

The company has a market capitalization of £14.57 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 32.88. The firm has a fifty day simple moving average of GBX 2,077.16 and a 200-day simple moving average of GBX 2,014.41.

Associated British Foods (LON:ABF) last posted its earnings results on Wednesday, April 30th. The company reported GBX 71 ($0.97) earnings per share (EPS) for the quarter. Associated British Foods had a return on equity of 13.07% and a net margin of 7.25%. On average, equities research analysts expect that Associated British Foods plc will post 188.0990415 EPS for the current fiscal year.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money.