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

Key Points

• Associated British Foods' stock experienced a significant decline of 13.2%, closing at GBX 1,945.50 ($26.33) after reaching a low of GBX 1,928.50 ($26.10).
• Deutsche Bank downgraded the stock to a "sell" rating and lowered its target price from GBX 2,220 to GBX 2,130, while Shore Capital maintained a "buy" rating.
• The company's market capitalization stands at £13.84 billion, with a notable price-to-earnings ratio of 1,097.29.

Associated British Foods plc (LON:ABF - Get Free Report) traded down 13.2% on Wednesday . The stock traded as low as GBX 1,928.50 ($26.10) and last traded at GBX 1,945.50 ($26.33). 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 ($30.33).

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and cut their target price for the stock from GBX 2,220 to GBX 2,130 in a research report on Tuesday, August 26th. Shore Capital reissued a "buy" rating on shares of Associated British Foods in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Associated British Foods currently has an average rating of "Hold" and an average price target of GBX 2,215.

Associated British Foods Stock Performance

The company has a market cap of £13.84 billion, a price-to-earnings 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 2,195.40 and a 200 day simple moving average of GBX 2,079.33. The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 32.88.

Insider Activity

In other news, insider Eoin Tonge sold 16,741 shares of the business'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 value of £346,538.70. 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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