Associated British Foods (LON:ABF) Stock Price Down 13.2% - Here's Why

Key Points

• Associated British Foods' stock price has fallen by 13.2%, trading as low as GBX 1,928.50 after previously closing at GBX 2,241, with a significant drop in trading volume.
• Wall Street analysts have mixed views on the stock, with Deutsche Bank downgrading it to a "sell" rating and lowering their price target, while Shore Capital maintains a "buy" rating.
• Insider Eoin Tonge sold 16,741 shares of the company’s stock for a total of approximately £346,539, indicating some insider activity amidst the stock's volatility.

Associated British Foods plc (LON:ABF - Get Free Report)'s stock price dropped 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). Approximately 2,909,437 shares changed hands during trading, a decline of 24% from the average daily volume of 3,829,985 shares. The stock had previously closed at GBX 2,241 ($30.33).

Wall Street Analyst Weigh In

ABF has been the topic of several research analyst reports. Shore Capital reissued a "buy" rating on shares of Associated British Foods in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and decreased their price target for the stock from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of GBX 2,215.

Associated British Foods Price Performance

The company has a fifty day simple moving average of GBX 2,195.40 and a two-hundred day simple moving average of GBX 2,079.33. 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 market capitalization of £13.84 billion, a price-to-earnings ratio of 1,097.29, a P/E/G ratio of 1.51 and a beta of 1.24.

Insiders Place Their Bets

In other Associated British Foods news, insider Eoin Tonge sold 16,741 shares of the business's 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. Company insiders own 1.49% of the company's stock.

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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