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Associated British Foods (LON:ABF) Trading Down 12.9% - Here's Why

Associated British Foods logo with Consumer Defensive background

Key Points

  • Associated British Foods' shares dropped 12.9% during mid-day trading, trading as low as GBX 1,928.50, significantly increasing the trading volume to approximately 26.9 million shares.
  • Despite the recent decline, analysts maintain mixed outlooks, with Shore Capital issuing a "buy" rating while Deutsche Bank downgraded the stock to "sell" and reduced the target price.
  • The company's strong market presence includes sales of £13.9 billion and operations in 53 countries, highlighting its status as a diversified international group in food and retail.
  • Interested in Associated British Foods? Here are five stocks we like better.

Associated British Foods plc (LON:ABF - Get Free Report) shares were down 12.9% during trading on Wednesday . The company traded as low as GBX 1,928.50 ($26.15) and last traded at GBX 1,952.50 ($26.47). Approximately 26,944,266 shares were traded during trading, an increase of 579% from the average daily volume of 3,967,327 shares. The stock had previously closed at GBX 2,241 ($30.39).

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABF. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and lowered their price target for the stock from GBX 2,220 to GBX 2,130 in a report on Tuesday, August 26th. Shore Capital reissued a "buy" rating on shares of Associated British Foods in a report on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of GBX 2,215.

Check Out Our Latest Report on ABF

Associated British Foods Stock Performance

The company has a current ratio of 1.78, a quick ratio of 0.93 and a debt-to-equity ratio of 32.88. The firm has a market capitalization of £13.96 billion, a price-to-earnings ratio of 1,106.32, a PEG ratio of 1.51 and a beta of 1.24. The stock's 50 day moving average price is GBX 2,190.23 and its two-hundred day moving average price is GBX 2,082.86.

Insider Activity

In other 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 value of £346,538.70. 1.49% of the stock is owned by corporate insiders.

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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