Associated British Foods (OTCMKTS:ASBFY) Cut to Hold at Royal Bank of Canada

Royal Bank of Canada cut shares of Associated British Foods (OTCMKTS:ASBFY - Free Report) from a moderate buy rating to a hold rating in a research note published on Wednesday, May 14th,Zacks.com reports.

Separately, Citigroup cut shares of Associated British Foods from a "neutral" rating to a "sell" rating in a report on Thursday, January 16th.

Associated British Foods Price Performance

Associated British Foods stock traded up $0.46 during midday trading on Wednesday, reaching $29.20. 751,678 shares of the stock traded hands, compared to its average volume of 53,001. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.78. The company has a 50-day simple moving average of $27.03 and a two-hundred day simple moving average of $26.20. Associated British Foods has a 12-month low of $22.69 and a 12-month high of $34.99.

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.