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

Key Points

• Associated British Foods' stock fell by 13.2%, trading at GBX 1,945.50, down from a previous close of GBX 2,241.
• Deutsche Bank downgraded the company to a "sell" rating with a reduced price target of GBX 2,130.
• The company has a market cap of £14.13 billion, with notable metrics including a debt-to-equity ratio of 32.88 and a consensus rating of "Hold" from analysts.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABF shares. Deutsche Bank Aktiengesellschaft lowered Associated British Foods to a "sell" rating and lowered their price target for the company from GBX 2,220 to GBX 2,130 in a research report on Tuesday, August 26th. Shore Capital restated a "buy" rating on shares of Associated British Foods in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Price Performance

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 cap of £14.13 billion, a PE ratio of 1,120.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The firm has a 50-day simple moving average of GBX 2,195.40 and a 200 day simple moving average of GBX 2,079.33.

Insiders Place Their Bets

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

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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