Associated British Foods (LON:ABF) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Associated British Foods shares rose above their 200-day moving average, reaching GBX 2,081 and last trading at GBX 2,069, compared with the moving average of GBX 1,919.22.
• Analyst sentiment remains cautious: ABF has a consensus rating of “Reduce”, with four Hold ratings and three Sell ratings, while the average price target of GBX 1,788.57 is below the current share price.
• The company reported quarterly earnings of GBX 174.90 per share and revenue of GBX 1,945.90 billion; ABF operates across grocery, sugar, agriculture, ingredients and retail in 53 countries.

Associated British Foods plc (LON:ABF - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,919.22 and traded as high as GBX 2,081. Associated British Foods shares last traded at GBX 2,069, with a volume of 514,400 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABF shares. UBS Group reaffirmed a "neutral" rating and issued a GBX 2,050 price target on shares of Associated British Foods in a report on Friday, June 26th. Citigroup reduced their price objective on Associated British Foods from GBX 1,450 to GBX 1,410 and set a "sell" rating for the company in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft decreased their target price on Associated British Foods from GBX 1,925 to GBX 1,850 and set a "hold" rating on the stock in a report on Tuesday, May 26th. JPMorgan Chase & Co. cut their target price on Associated British Foods from GBX 1,780 to GBX 1,700 and set a "neutral" rating on the stock in a research report on Friday, July 3rd. Finally, Jefferies Financial Group reaffirmed an "underperform" rating and set a GBX 1,650 target price on shares of Associated British Foods in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Associated British Foods currently has a consensus rating of "Reduce" and an average target price of GBX 1,788.57.

Associated British Foods Price Performance

The company has a market cap of £14.48 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The stock has a fifty day moving average price of GBX 2,005.35 and a 200-day moving average price of GBX 1,919.22. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93.

Associated British Foods (LON:ABF - Get Free Report) last issued its quarterly earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. The business had revenue of GBX 1,945.90 billion for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%. On average, equities analysts expect that Associated British Foods plc will post 188.0990415 earnings per share for the current year.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia. Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders. Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.

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