Associated British Foods (LON:ABF) Trading Down 13.2% - Time to Sell?

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)'s stock price was down 13.2% during trading on Thursday . The stock traded as low as GBX 1,928.50 ($26.23) and last traded at GBX 1,945.50 ($26.47). Approximately 2,909,437 shares changed hands during trading, a decline of 24% from the average daily volume of 3,829,985 shares. The stock had previously closed at GBX 2,241 ($30.49).

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ABF shares. Deutsche Bank Aktiengesellschaft cut Associated British Foods to a "sell" rating and dropped their target price for the stock from GBX 2,220 to GBX 2,130 in a report on Tuesday, August 26th. Shore Capital reissued a "buy" rating on shares of Associated British Foods in a report on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of GBX 2,215.

Associated British Foods Stock Performance

The company has a current ratio of 1.78, a quick ratio of 0.93 and a debt-to-equity ratio of 32.88. The stock has a market capitalization of £14.07 billion, a PE ratio of 1,115.62, a PEG ratio of 1.51 and a beta of 1.24. The firm's 50-day simple moving average is GBX 2,188.48 and its two-hundred day simple moving average is GBX 2,083.33.

Insiders Place Their Bets

In other Associated British Foods news, insider Eoin Tonge sold 16,741 shares of Associated British Foods stock in a transaction that occurred 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.

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.