Associated British Foods (LON:ABF) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Associated British Foods shares crossed above their 200-day moving average during trading, reaching GBX 2,262 ($30.38) before last trading at GBX 2,253 ($30.26).
• The company holds a market cap of £16.44 billion with a debt-to-equity ratio of 32.88 and a current ratio of 1.78, signaling a robust financial position.
• Insider Eoin Tonge sold 16,741 shares at an average price of GBX 2,070, totaling around £346,538, indicating active management involvement in stock transactions.

Shares of Associated British Foods plc (LON:ABF - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 2,028.87 ($27.50) and traded as high as GBX 2,262 ($30.66). Associated British Foods shares last traded at GBX 2,253 ($30.54), with a volume of 558,247 shares.

Wall Street Analyst Weigh In

Separately, Shore Capital restated a "house stock" rating on shares of Associated British Foods in a report on Tuesday, May 6th.

Associated British Foods Stock Performance

The business's fifty day moving average price is GBX 2,134.96 and its two-hundred day moving average price is GBX 2,037.80. 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 stock has a market capitalization of £16.39 billion, a P/E ratio of 11.58, a P/E/G 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 business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of GBX 2,070 ($28.06), for a total value of £346,538.70 ($469,691.92). 58.08% of the stock is currently owned by company insiders.

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.