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Associated British Foods (OTCMKTS:ASBFY) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Associated British Foods logo with Consumer Staples background

Key Points

  • Associated British Foods' stock price has surpassed its **200-day moving average** of **$28.03**, reaching a high of **$30.80** during recent trading.
  • Royal Bank of Canada has **downgraded** the company's rating from **"moderate buy"** to **"hold"**, contributing to an average rating of **"Reduce"** among analysts.
  • The company operates as a **diversified food and retail** firm with five segments, including Grocery, Ingredients, Agriculture, Sugar, and Retail.
  • Five stocks to consider instead of Associated British Foods.

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.03 and traded as high as $30.80. Associated British Foods shares last traded at $30.61, with a volume of 4,835 shares traded.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on Associated British Foods

Associated British Foods Price Performance

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

About Associated British Foods

(Get Free Report)

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.

Further Reading

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