Associated British Foods' (ABF) "Buy" Rating Reaffirmed at Shore Capital

Key Points

• Shore Capital has reaffirmed a "buy" rating for Associated British Foods (ABF), despite conflicting views from other analysts.
• Deutsche Bank has downgraded ABF to a "sell" rating and lowered its target price from GBX 2,220 to GBX 2,130.
• ABF's stock currently stands at GBX 1,986.50, reflecting a 0.8% decrease, with analysts giving it an average rating of "Hold."

Associated British Foods (LON:ABF - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Shore Capital in a note issued to investors on Thursday, MarketBeat Ratings reports.

Separately, Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and reduced their price objective for the company from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Associated British Foods currently has a consensus rating of "Hold" and a consensus target price of GBX 2,215.

Associated British Foods Stock Performance

ABF stock traded down GBX 3 during trading hours on Thursday, hitting GBX 1,976. 766,230 shares of the stock were exchanged, compared to its average volume of 3,702,895. The company has a current ratio of 1.78, a quick ratio of 0.93 and a debt-to-equity ratio of 32.88. The firm has a market capitalization of £14.06 billion, a P/E ratio of 1,114.50, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a 50-day simple moving average of GBX 2,182.54 and a two-hundred day simple moving average of GBX 2,086.35. Associated British Foods has a 12 month low of GBX 1,818.87 and a 12 month high of GBX 2,440.

Insiders Place Their Bets

In other news, insider Eoin Tonge sold 16,741 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total transaction of £346,538.70. Insiders own 1.49% of the company's stock.

Associated British Foods Company Profile

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.