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) shares traded down 13.2% during mid-day trading on Wednesday . The company traded as low as GBX 1,928.50 ($26.15) and last traded at GBX 1,945.50 ($26.38). 2,907,891 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 3,829,976 shares. The stock had previously closed at GBX 2,241 ($30.39).

Wall Street Analysts Forecast Growth

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

Associated British Foods Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 32.88. The firm's 50-day moving average is GBX 2,190.23 and its 200-day moving average is GBX 2,082.86. The company has a market cap of £13.96 billion, a PE ratio of 1,106.32, a PEG ratio of 1.51 and a beta of 1.24.

Insider Activity

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. 1.49% of the stock is owned by corporate 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.