Associated British Foods (LON:ABF) Stock Price Down 12.9% - Here's Why

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 share price traded down 12.9% during trading on Wednesday . The stock traded as low as GBX 1,950.50 ($26.45) and last traded at GBX 1,952.50 ($26.47). 26,601,869 shares were traded during mid-day trading, an increase of 571% from the average session volume of 3,965,371 shares. The stock had previously closed at GBX 2,241 ($30.39).

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Shore Capital reissued a "buy" rating on shares of Associated British Foods in a research note on Wednesday, September 10th. Deutsche Bank Aktiengesellschaft cut shares of Associated British Foods to a "sell" rating and decreased their target price for the stock 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. According to MarketBeat, Associated British Foods currently has an average rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Stock Up 0.6%

The firm's 50-day moving average price is GBX 2,190.23 and its 200-day moving average price is GBX 2,082.86. 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 company has a market cap of £13.96 billion, a price-to-earnings ratio of 1,106.32, a price-to-earnings-growth 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 stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total value of £346,538.70. 1.49% of the stock is owned by 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.