Associated British Foods PLC (OTCMKTS:ASBFY) Sees Significant Decline in Short Interest

Key Points

• Associated British Foods saw short interest fall to 86,140 shares as of April 15, a 21.4% drop from March 31, leaving a very low days-to-cover of 0.3 days.
• Analyst sentiment has weakened with multiple downgrades and an average MarketBeat rating of “Reduce” (one Strong Buy, two Hold, three Sell).
• Shares traded around $24.96, close to the 12‑month low of $23.36 (high $31.96), with 50‑day/200‑day moving averages at $25.23 and $27.05 and conservative balance-sheet metrics (current ratio 1.51, debt/equity 0.26).

Associated British Foods PLC (OTCMKTS:ASBFY - Get Free Report) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 86,140 shares, a drop of 21.4% from the March 31st total of 109,584 shares. Based on an average daily volume of 329,441 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

Associated British Foods Stock Down 0.5%

Shares of ASBFY opened at $24.96 on Thursday. Associated British Foods has a 12 month low of $23.36 and a 12 month high of $31.96. The firm's 50 day moving average is $25.23 and its 200-day moving average is $27.05. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ASBFY shares. Sanford C. Bernstein cut shares of Associated British Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Royal Bank Of Canada cut shares of Associated British Foods from a "hold" rating to a "strong sell" rating in a report on Monday, April 13th. Zacks Research cut shares of Associated British Foods from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Finally, The Goldman Sachs Group cut shares of Associated British Foods from a "hold" rating to a "strong sell" rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce".

Associated British Foods Company Profile

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.