Associated British Foods (LON:ABF) Cut to Sell at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank has downgraded Associated British Foods to a "sell" rating, lowering the price objective from GBX 2,220 to GBX 2,130, indicating a potential downside of 3.75%.
• In contrast, Shore Capital maintains a "buy" rating, contributing to a mixed analyst perception with an average rating of "hold" and a consensus target of GBX 2,215.
• Shares of Associated British Foods have declined by 4.4%, with a current share price of GBX 2,213, reflecting broader market sentiment towards the company's stock.

Deutsche Bank Aktiengesellschaft lowered shares of Associated British Foods (LON:ABF - Free Report) to a sell rating in a research report report published on Tuesday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has GBX 2,130 price target on the stock, down from their prior price target of GBX 2,220.

Separately, Shore Capital reaffirmed a "buy" rating on shares of Associated British Foods in a research report on Monday, August 18th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of GBX 2,215.

Associated British Foods Stock Down 0.9%

Shares of ABF stock traded down GBX 20 during trading on Tuesday, hitting GBX 2,160. 692,877 shares of the company were exchanged, compared to its average volume of 3,399,475. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78. The firm has a market capitalization of £15.41 billion, a price-to-earnings ratio of 1,218.27, a P/E/G ratio of 1.51 and a beta of 1.24. The business's 50-day simple moving average is GBX 2,175.48 and its 200 day simple moving average is GBX 2,065.27. Associated British Foods has a twelve month low of GBX 1,818.87 and a twelve month high of GBX 2,524.

Insider Transactions at Associated British Foods

In other Associated British Foods news, insider Eoin Tonge sold 16,741 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of GBX 2,070, for a total value of £346,538.70. 1.47% of the stock is owned by company insiders.

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.