Associated British Foods (OTCMKTS:ASBFY) Trading 0.7% Higher - Still a Buy?

Key Points

• Associated British Foods' share price rose by 0.7% to $31.35, despite a significant drop in trading volume of 86% compared to average daily shares traded.
• Royal Bank Of Canada downgraded the stock's rating from "moderate buy" to "hold," reflecting a cautious outlook from analysts, with a consensus rating of "Reduce" overall.
• Recently, the company declared a dividend of $0.2274 per share, yielding an impressive 362.0%, with the ex-dividend date on May 30th.

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report) shot up 0.7% during trading on Tuesday . The stock traded as high as $31.68 and last traded at $31.35. 7,183 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 52,148 shares. The stock had previously closed at $31.13.

Analyst Upgrades and Downgrades

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

Associated British Foods Trading Up 0.1%

The business has a 50 day moving average of $29.57 and a two-hundred day moving average of $27.51. The company has a quick ratio of 0.75, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

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.