Associated British Foods (LON:ABF) Trading Down 13.2% - Time to 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 share price was down 13.2% during trading on Wednesday . The stock traded as low as GBX 1,928.50 ($26.23) and last traded at GBX 1,945.50 ($26.47). Approximately 2,909,437 shares were traded 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 ($30.49).

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABF shares. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and reduced their price objective for the company from GBX 2,220 to GBX 2,130 in a research report on Tuesday, August 26th. Shore Capital reiterated a "buy" rating on shares of Associated British Foods in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Trading Up 0.6%

The firm has a 50-day moving average of GBX 2,190.23 and a 200-day moving average of GBX 2,082.86. 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 firm has a market capitalization of £13.96 billion, a P/E ratio of 1,106.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24.

Insider Transactions at Associated British Foods

In related news, insider Eoin Tonge sold 16,741 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total transaction of £346,538.70. 1.49% of the stock is currently owned by 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.