Associated British Foods (LON:ABF) Stock Price Down 9.2% - Here's Why

Associated British Foods plc (LON:ABF - Get Free Report)'s share price was down 9.2% during mid-day trading on Wednesday . The stock traded as low as GBX 2,020 ($27.09) and last traded at GBX 2,034 ($27.28). Approximately 2,897,962 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 5,915,649 shares. The stock had previously closed at GBX 2,239 ($30.03).

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a GBX 2,300 ($30.85) price objective on shares of Associated British Foods in a research report on Tuesday, January 28th. Shore Capital reissued an "under review" rating on shares of Associated British Foods in a research note on Tuesday.

Associated British Foods Trading Up 2.3 %

The stock's 50-day moving average price is GBX 1,972.59 and its 200 day moving average price is GBX 2,059.57. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93. The firm has a market capitalization of £15.00 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24.

Associated British Foods (LON:ABF - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported GBX 71 ($0.95) earnings per share for the quarter. Associated British Foods had a return on equity of 13.07% and a net margin of 7.25%. On average, sell-side analysts expect that Associated British Foods plc will post 188.0990415 EPS for the current fiscal year.

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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