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

Associated British Foods logo with Consumer Defensive background

Key Points

  • Associated British Foods shares plummeted by 13.2% during trading, marking a significant drop from a previous close of GBX 2,241 ($30.32) to a low of GBX 1,928.50 ($26.09).
  • Analysts have varied opinions on the stock, with Deutsche Bank lowering its rating to "sell" and cutting its price target, while Shore Capital maintained a "buy" rating, leading to an overall consensus rating of "Hold."
  • Insider activity was noted, with Eoin Tonge selling 16,741 shares at an average price of GBX 2,070, highlighting potential concerns among corporate insiders.
  • MarketBeat previews top five stocks to own in October.

Shares of Associated British Foods plc (LON:ABF - Get Free Report) fell 13.2% on Wednesday . The stock traded as low as GBX 1,928.50 ($26.09) and last traded at GBX 1,945.50 ($26.32). 2,909,437 shares changed hands during trading, a decline of 24% from the average session volume of 3,829,985 shares. The stock had previously closed at GBX 2,241 ($30.32).

Analyst Ratings Changes

Several brokerages have recently weighed in on ABF. Deutsche Bank Aktiengesellschaft lowered shares of Associated British Foods to a "sell" rating and cut their price objective for the stock from GBX 2,220 to GBX 2,130 in a report 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of GBX 2,215.

Get Our Latest Stock Analysis on Associated British Foods

Associated British Foods Stock Down 13.2%

The company has a market capitalization of £13.84 billion, a PE ratio of 1,097.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The firm has a 50-day simple moving average of GBX 2,197.56 and a 200 day simple moving average of GBX 2,080.26. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93.

Insider Activity

In other news, insider Eoin Tonge sold 16,741 shares of Associated British Foods stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of GBX 2,070, for a total transaction 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.

See Also

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