Associated British Foods (LON:ABF) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Associated British Foods' share price has crossed above its 200-day moving average, trading at GBX 2,314 ($31.13) after peaking at GBX 2,328 ($31.32).
• Analysts have mixed opinions, with a consensus rating of "Hold" and a target price of GBX 2,245, alongside two analysts recommending a Buy and one a Sell.
• Insider activity includes a significant sale by Eoin Tonge, who sold 16,741 shares at an average price of GBX 2,070, while insiders own over 58% of the company's stock.

Associated British Foods plc (LON:ABF - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,058.23 ($27.80) and traded as high as GBX 2,328 ($31.44). Associated British Foods shares last traded at GBX 2,314 ($31.25), with a volume of 261,021 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Shore Capital reaffirmed a "buy" rating on shares of Associated British Foods in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft cut shares of Associated British Foods to a "sell" rating and decreased their price objective for the stock from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Stock Performance

The company has a market capitalization of £15.41 billion, a P/E ratio of 1,218.27, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93. The stock's 50 day simple moving average is GBX 2,175.48 and its two-hundred day simple moving average is GBX 2,066.33.

Insider Buying and Selling 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 dated Thursday, July 3rd. The shares were sold at an average price of GBX 2,070, for a total value of £346,538.70. Corporate insiders own 1.47% 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.