Associated British Foods (LON:ABF) Trading Down 13.2% - Here's What Happened

Key Points

• Associated British Foods' stock price fell by 13.2%, trading as low as GBX 1,928.50 on Wednesday, down from a previous close of GBX 2,241.
• Deutsche Bank downgraded the stock to a "sell" rating, lowering its price target from GBX 2,220 to GBX 2,130, while Shore Capital maintained a "buy" rating.
• The company has a market capitalization of £13.84 billion and a current ratio of 1.78, indicating a sound short-term financial position.

Associated British Foods plc (LON:ABF - Get Free Report)'s stock price fell 13.2% on Wednesday . The stock traded as low as GBX 1,928.50 ($26.10) and last traded at GBX 1,945.50 ($26.33). 2,909,437 shares were traded during trading, a decline of 24% from the average session volume of 3,829,985 shares. The stock had previously closed at GBX 2,241 ($30.33).

Analyst Ratings Changes

Several brokerages have recently weighed in on ABF. Shore Capital restated a "buy" rating on shares of Associated British Foods in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Associated British Foods to a "sell" rating and reduced their price objective for the stock from GBX 2,220 to GBX 2,130 in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Stock Performance

The firm's 50-day moving average is GBX 2,195.40 and its 200 day moving average is GBX 2,079.33. The stock has a market cap of £13.84 billion, a PE ratio of 1,097.29, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78.

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 shares were sold at an average price of GBX 2,070, for a total transaction of £346,538.70. 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.

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