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 reiterated by stock analysts at Shore Capital in a report released on Wednesday, Marketbeat reports.

Separately, Deutsche Bank Aktiengesellschaft cut Associated British Foods to a "sell" rating and decreased their price target for the company from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Associated British Foods currently has an average rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Stock Up 0.6%

Shares of ABF stock traded up GBX 12.04 during mid-day trading on Wednesday, hitting GBX 1,961.50. 652,128 shares of the stock traded hands, compared to its average volume of 3,781,724. The stock has a market cap of £13.96 billion, a P/E ratio of 1,106.32, a P/E/G ratio of 1.51 and a beta of 1.24. The stock's fifty day moving average is GBX 2,190.23 and its two-hundred day moving average is GBX 2,082.86. Associated British Foods has a 52-week low of GBX 1,818.87 and a 52-week high of GBX 2,440. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93.

Insider Transactions at Associated British Foods

In related news, insider Eoin Tonge sold 16,741 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of GBX 2,070, for a total transaction of £346,538.70. 1.49% of the stock is owned by company 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.