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Associated British Foods (LON:ABF) Shares Down 13.2% - Time to Sell?

Associated British Foods logo with Consumer Defensive background

Key Points

  • Associated British Foods plc shares fell 13.2%, trading as low as GBX 1,928.50, significantly down from its previous close of GBX 2,241.
  • Deutsche Bank downgraded the stock from a "hold" to a "sell" rating, lowering its target price to GBX 2,130.
  • Insider Eoin Tonge sold 16,741 shares at an average price of GBX 2,070, indicating potential concerns from company insiders.
  • Five stocks we like better than Associated British Foods.

Shares of Associated British Foods plc (LON:ABF - Get Free Report) traded down 13.2% during trading on Wednesday . The stock traded as low as GBX 1,928.50 ($26.10) and last traded at GBX 1,945.50 ($26.33). 2,909,437 shares changed hands during trading, a decline of 24% from the average session volume of 3,829,985 shares. The stock had previously closed at GBX 2,241 ($30.33).

Wall Street Analysts Forecast Growth

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

Read Our Latest Analysis on ABF

Associated British Foods Price Performance

The stock's 50 day moving average price is GBX 2,195.40 and its 200-day moving average price is GBX 2,079.33. The stock has a market capitalization of £13.84 billion, a PE ratio of 1,097.29, a price-to-earnings-growth 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 other Associated British Foods 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. Insiders own 1.49% of the company's stock.

Associated British Foods Company Profile

(Get Free Report)

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.

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