Associated British Foods (OTCMKTS:ASBFY) Shares Gap Down - Time to Sell?

Key Points

• Associated British Foods shares gapped down significantly, opening at $26.99 after a previous close of $30.61, marking a notable shift in market sentiment.
• The company's stock rating was downgraded by Royal Bank Of Canada from "moderate buy" to "hold," reflecting caution from analysts.
• Currently, Associated British Foods' stock has an average rating of "Reduce," with one analyst issuing a Hold rating and one a Sell rating.

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $30.61, but opened at $26.99. Associated British Foods shares last traded at $26.99, with a volume of 1,108 shares traded.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada downgraded shares of Associated British Foods from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce".

Associated British Foods Trading Down 12.4%

The company has a current ratio of 1.61, a quick ratio of 0.75 and a debt-to-equity ratio of 0.27. The business's fifty day moving average is $29.99 and its 200 day moving average is $28.03.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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