Associated British Foods (LON:ABF) Receives Buy Rating from Shore Capital

Key Points

• Shore Capital has reaffirmed a "buy" rating for Associated British Foods (ABF), indicating continued confidence in the company's stock performance.
• In contrast, Deutsche Bank downgraded ABF to a "sell" rating and lowered its price target from GBX 2,220 to GBX 2,130, reflecting negative outlook on the stock.
• ABF’s stock has decreased by 10.7%, trading at GBX 2,001, with a market capitalization of £14.24 billion.

Associated British Foods (LON:ABF - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Shore Capital in a note issued to investors on Wednesday, Marketbeat reports.

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of Associated British Foods to a "sell" rating and lowered their target price for the company from GBX 2,220 to GBX 2,130 in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Associated British Foods presently has an average rating of "Hold" and a consensus target price of GBX 2,215.

Associated British Foods Stock Performance

Shares of LON:ABF traded up GBX 14.46 during midday trading on Wednesday, hitting GBX 1,949.46. The stock had a trading volume of 906,881 shares, compared to its average volume of 3,799,405. The company has a market capitalization of £13.87 billion, a PE ratio of 1,099.53, a P/E/G ratio of 1.51 and a beta of 1.24. The stock has a 50 day moving average price of GBX 2,190.23 and a two-hundred day moving average price of GBX 2,081.44. The company has a current ratio of 1.78, a quick ratio of 0.93 and a debt-to-equity ratio of 32.88. Associated British Foods has a 1 year low of GBX 1,818.87 and a 1 year high of GBX 2,440.

Insider Buying and Selling at Associated British Foods

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 shares were sold at an average price of GBX 2,070, for a total value of £346,538.70. 1.49% of the stock is currently owned by corporate insiders.

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.