Associated British Foods (LON:ABF) Stock Price Down 13.2% - Should You Sell?

Key Points

• Associated British Foods stock price fell by 13.2%, closing at GBX 1,945.50, with trading volume down 24% from the daily average.
• Deutsche Bank downgraded the stock to a "sell" rating, reducing the price target from GBX 2,220 to GBX 2,130, while Shore Capital reiterated a "buy" rating.
• The company has a market capitalization of £13.84 billion and its stock currently has a consensus rating of "Hold" from analysts.

Associated British Foods plc (LON:ABF - Get Free Report)'s stock price was down 13.2% during trading on Wednesday . The stock traded as low as GBX 1,928.50 ($26.09) and last traded at GBX 1,945.50 ($26.32). 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 ($30.32).

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABF. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Shore Capital reiterated a "buy" rating on shares of Associated British Foods in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Stock Performance

The business's fifty day moving average price is GBX 2,197.56 and its two-hundred day moving average price is GBX 2,080.26. 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 stock has a market capitalization of £13.84 billion, a P/E ratio of 1,097.29, a P/E/G ratio of 1.51 and a beta of 1.24.

Insider Buying and Selling at Associated British Foods

In other news, insider Eoin Tonge sold 16,741 shares of the business's 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 currently owned by company insiders.

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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