Associated British Foods PLC (OTCMKTS:ASBFY) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• Analysts give Associated British Foods an average rating of “Reduce” from six research firms, comprising three sell, two hold and one strong-buy recommendations.
• Several major brokerages have recently downgraded the stock, with Royal Bank of Canada and Goldman Sachs cutting ratings to strong sell and Bernstein and Zacks lowering to hold.
• Shares opened at $25.11, trading below the 200-day moving average ($27.18) with a 52-week range of $23.36–$31.96; the company shows modest leverage (debt/equity 0.28) but a lower quick ratio (0.75).

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report) has been given an average rating of "Reduce" by the six research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a strong buy recommendation on the company.

A number of brokerages recently commented on ASBFY. Sanford C. Bernstein lowered Associated British Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 12th. Zacks Research lowered Associated British Foods from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Royal Bank Of Canada lowered Associated British Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group lowered Associated British Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, January 12th.

Associated British Foods Stock Up 0.5%

Shares of OTCMKTS ASBFY opened at $25.11 on Thursday. The business has a fifty day simple moving average of $25.41 and a 200 day simple moving average of $27.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. Associated British Foods has a one year low of $23.36 and a one year high of $31.96.

About Associated British Foods

Associated British Foods plc OTCMKTS: ASBFY is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.