Associated British Foods (LON:ABF) Trading Down 12.9% - What's Next?

Key Points

• Associated British Foods' stock price fell 12.9% during trading, with shares dropping to GBX 1,950.50 ($26.39), significantly below the previous close of GBX 2,241 ($30.32).
• Analyst ratings have been mixed, with Shore Capital maintaining a "buy" rating while Deutsche Bank reduced its rating to "sell" and lowered the price target to GBX 2,130.
• Insider Eoin Tonge sold 16,741 shares at an average price of GBX 2,070, highlighting insider selling activity amidst recent stock declines.

Associated British Foods plc (LON:ABF - Get Free Report)'s stock price dropped 12.9% during trading on Wednesday . The stock traded as low as GBX 1,950.50 ($26.39) and last traded at GBX 1,952.50 ($26.41). Approximately 26,601,869 shares were traded during trading, an increase of 571% from the average daily volume of 3,965,371 shares. The stock had previously closed at GBX 2,241 ($30.32).

Analyst Ratings Changes

ABF has been the subject of several research reports. Shore Capital reiterated a "buy" rating on shares of Associated British Foods in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and dropped their price target for the company from GBX 2,220 to GBX 2,130 in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of GBX 2,215.

Associated British Foods Stock Down 12.9%

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 business has a fifty day moving average of GBX 2,197.56 and a 200 day moving average of GBX 2,080.26. The stock has a market capitalization of £13.89 billion, a price-to-earnings ratio of 1,101.24, a PEG ratio of 1.51 and a beta of 1.24.

Insider Buying and Selling

In other Associated British Foods news, insider Eoin Tonge sold 16,741 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total transaction of £346,538.70. 1.49% of the stock is owned by company insiders.

About Associated British Foods

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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