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

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)'s stock price was down 13.2% during mid-day trading on Wednesday . The company traded as low as GBX 1,928.50 ($26.15) and last traded at GBX 1,945.50 ($26.38). Approximately 2,909,437 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 3,829,985 shares. The stock had previously closed at GBX 2,241 ($30.39).

Analyst Ratings Changes

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

Associated British Foods Price Performance

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 £14.12 billion, a P/E ratio of 1,119.29, a P/E/G ratio of 1.51 and a beta of 1.24. The firm has a 50 day moving average price of GBX 2,190.23 and a two-hundred day moving average price of GBX 2,082.86.

Insider Transactions at Associated British Foods

In related 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 transaction of £346,538.70. Company 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.