Associated British Foods (LON:ABF) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Associated British Foods shares rose above their 200-day moving average, trading at GBX 2,100 versus the average of GBX 1,894.02, with unusually high volume of about 39.8 million shares.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold” and three rate it “Sell,” resulting in a consensus “Reduce” rating and an average price target of GBX 1,788.57—below the latest trading price.
• The company reported quarterly EPS of GBX 174.90 and revenue of GBX 1,945.90 billion, while analysts expect full-year EPS of approximately GBX 188.10.

Associated British Foods plc (LON:ABF - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,894.02 and traded as high as GBX 2,100. Associated British Foods shares last traded at GBX 2,100, with a volume of 39,786,555 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group reissued a "neutral" rating and issued a GBX 2,050 price objective on shares of Associated British Foods in a report on Friday, June 26th. Shore Capital Group reaffirmed a "hold" rating and set a GBX 2,010 target price on shares of Associated British Foods in a research note on Thursday, July 2nd. JPMorgan Chase & Co. decreased their target price on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a "neutral" rating on the stock in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a "hold" rating for the company in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada lowered shares of Associated British Foods to an "underperform" rating and reduced their price target for the company from GBX 2,050 to GBX 1,850 in a research report on Monday, April 13th. Four analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of GBX 1,788.57.

Associated British Foods Trading Up 1.2%

The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93. The company has a market cap of £14.70 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.51 and a beta of 0.80. The company's 50 day simple moving average is GBX 1,931.01 and its two-hundred day simple moving average is GBX 1,894.02.

Associated British Foods (LON:ABF - Get Free Report) last released its quarterly earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share (EPS) for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The business had revenue of GBX 1,945.90 billion for the quarter. As a group, sell-side analysts anticipate that Associated British Foods plc will post 188.0990415 EPS for the current fiscal year.

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. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders. Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.

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