Associated British Foods (LON:ABF) Stock Price Down 10.7% - What's Next?

Key Points

• Associated British Foods' shares fell 10.7% on Wednesday, trading as low as GBX 1,966 ($26.60).
• Analysts at Deutsche Bank downgraded the stock to a "sell" rating and lowered their price target to GBX 2,130.
• The company has a current market cap of £14.24 billion and reported sales of £13.9 billion.

Associated British Foods plc (LON:ABF - Get Free Report)'s share price was down 10.7% during trading on Wednesday . The stock traded as low as GBX 1,966 ($26.66) and last traded at GBX 2,001 ($27.13). Approximately 26,266,225 shares traded hands during trading, an increase of 563% from the average daily volume of 3,963,453 shares. The stock had previously closed at GBX 2,241 ($30.39).

Analysts Set New Price Targets

Several equities research analysts recently commented on ABF shares. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and cut their target price for the company from GBX 2,220 to GBX 2,130 in a research report on Tuesday, August 26th. Shore Capital reaffirmed a "buy" rating on shares of Associated British Foods in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of GBX 2,215.

Associated British Foods Trading Up 0.6%

The firm has a 50 day moving average price of GBX 2,190.23 and a 200 day moving average price of GBX 2,082.86. The stock has a market capitalization of £13.96 billion, a PE ratio of 1,106.32, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 32.88.

Insider Activity at Associated British Foods

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