Shares of Associated British Foods plc (LON:ABF - Get Free Report) dropped 12.9% during mid-day trading on Wednesday . The stock traded as low as GBX 1,928.50 ($26.09) and last traded at GBX 1,952.50 ($26.41). Approximately 26,944,266 shares changed hands during mid-day trading, an increase of 579% from the average daily volume of 3,967,327 shares. The stock had previously closed at GBX 2,241 ($30.32).
Wall Street Analysts Forecast Growth
ABF has been the topic of several research analyst reports. Shore Capital reiterated a "buy" rating on shares of Associated British Foods in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut Associated British Foods to a "sell" rating and lowered their target price for the stock from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of GBX 2,215.
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Associated British Foods Price Performance
The stock has a market capitalization of £13.84 billion, a price-to-earnings ratio of 1,097.29, a PEG ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78. The company has a 50 day moving average of GBX 2,197.56 and a 200 day moving average of GBX 2,080.26.
Insider Activity
In other news, insider Eoin Tonge sold 16,741 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total transaction of £346,538.70. Corporate insiders own 1.49% of the company's stock.
Associated British Foods Company Profile
(
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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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