Associated British Foods (LON:ABF) Trading Down 13.2% - What's Next?

Key Points

• Associated British Foods' share price fell 13.2% on Thursday, trading as low as GBX 1,928.50, a significant drop from its previous closing price of GBX 2,241.
• Analysts at Deutsche Bank downgraded the company to a "sell" rating and reduced their target price from GBX 2,220 to GBX 2,130, while two other analysts have rated the stock as a Buy.
• Insider Eoin Tonge sold 16,741 shares for £346,538.70 at an average price of GBX 2,070, indicating a potential lack of confidence in the stock's performance by company insiders.

Shares of Associated British Foods plc (LON:ABF - Get Free Report) were down 13.2% on Thursday . The company 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 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 ($30.49).

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABF shares. Shore Capital reaffirmed a "buy" rating on shares of Associated British Foods in a research report on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft downgraded Associated British Foods to a "sell" rating and decreased their target price for the company from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of GBX 2,215.

Associated British Foods Trading Up 0.8%

The stock has a fifty day moving average of GBX 2,188.48 and a 200-day moving average of GBX 2,083.33. 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 cap of £14.07 billion, a PE ratio of 1,115.62, a PEG 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 stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total value of £346,538.70. Corporate 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.