Associated British Foods (LON:ABF) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Associated British Foods' stock price has risen above its two hundred day moving average, trading at GBX 2,125 ($28.26), which may be indicative of positive momentum.
• Analysts have mixed ratings on the stock, with Deutsche Bank downgrading their target price to GBX 2,000 but Shore Capital maintaining a "buy" rating; the consensus rating remains a "Moderate Buy" with a target of GBX 2,150.
• The company boasts a market capitalization of £15.19 billion, and has notable financial ratios including a price-to-earnings ratio of 1,204.17 and a debt-to-equity ratio of 32.88.

Associated British Foods plc (LON:ABF - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,099.12 ($27.92) and traded as high as GBX 2,125 ($28.26). Associated British Foods shares last traded at GBX 2,125 ($28.26), with a volume of 688,974 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABF shares. Deutsche Bank Aktiengesellschaft upgraded shares of Associated British Foods to a "hold" rating and decreased their target price for the company from GBX 2,130 to GBX 2,000 in a research report on Wednesday, September 24th. Shore Capital reiterated a "buy" rating on shares of Associated British Foods in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of GBX 2,150.

Associated British Foods Stock Performance

The stock has a market capitalization of £15.19 billion, a price-to-earnings ratio of 1,204.17, 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. The stock's 50-day simple moving average is GBX 2,144.93 and its 200 day simple moving average is GBX 2,099.12.

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.

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