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

Key Points

• Associated British Foods (LON:ABF) saw its stock price drop by 13.2%, trading at GBX 1,945.50, which is significantly lower than its previous closing price of GBX 2,241.
• Analysts have mixed views on the stock, with Shore Capital maintaining a "buy" rating while Deutsche Bank has downgraded it to a "sell" with a new price target of GBX 2,130.
• The company reported a debt-to-equity ratio of 32.88 and a market cap of £13.84 billion, indicating a complex financial position amid market changes.

Associated British Foods plc (LON:ABF - Get Free Report) dropped 13.2% on Wednesday . The company traded as low as GBX 1,928.50 ($26.09) and last traded at GBX 1,945.50 ($26.32). Approximately 2,907,891 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 3,829,976 shares. The stock had previously closed at GBX 2,241 ($30.32).

Analyst Upgrades and Downgrades

ABF has been the topic of a number of research reports. Shore Capital restated a "buy" rating on shares of Associated British Foods in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Associated British Foods to a "sell" rating and decreased their price target for the stock from GBX 2,220 to GBX 2,130 in a research note on Tuesday, August 26th. Two investment 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, the stock has an average rating of "Hold" and an average 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 company has a 50 day moving average price of GBX 2,197.56 and a 200 day moving average price of GBX 2,080.26. The firm has a market cap of £13.84 billion, a PE ratio of 1,097.29, a PEG ratio of 1.51 and a beta of 1.24.

Insider Buying and Selling

In other news, insider Eoin Tonge sold 16,741 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of GBX 2,070, for a total value 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.

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