Associated British Foods (LON:ABF) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Associated British Foods shares rose above their 200-day moving average of GBX 1,924.28, reaching GBX 2,060 before closing at GBX 2,041 on trading volume of about 1 million shares.
• Analysts remain cautious, with four “Hold” and three “Sell” ratings producing a consensus “Reduce” recommendation and an average price target of GBX 1,788.57.
• ABF reported quarterly EPS of GBX 174.90, a 4.89% net margin and an 8.44% return on equity; analysts expect full-year EPS of approximately GBX 188.10.

Associated British Foods plc (LON:ABF - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,924.28 and traded as high as GBX 2,060. Associated British Foods shares last traded at GBX 2,041, with a volume of 1,001,637 shares changing hands.

Analyst Ratings Changes

Several research firms have recently commented on ABF. 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 research report on Tuesday, May 26th. Jefferies Financial Group restated an "underperform" rating and issued a GBX 1,650 price target on shares of Associated British Foods in a research note on Wednesday, July 1st. Citigroup decreased their price objective on Associated British Foods from GBX 1,450 to GBX 1,410 and set a "sell" rating on the stock in a report on Tuesday, June 16th. Shore Capital Group reiterated a "hold" rating and set a GBX 2,010 price objective on shares of Associated British Foods in a research report on Thursday, July 2nd. Finally, UBS Group reissued a "neutral" rating and set a GBX 2,050 target price on shares of Associated British Foods in a report on Friday, June 26th. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of GBX 1,788.57.

Associated British Foods Stock Down 0.5%

The stock has a 50-day moving average of GBX 2,025.74 and a 200-day moving average of GBX 1,924.28. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93. The firm has a market cap of £14.28 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 1.51 and a beta of 0.81.

Associated British Foods (LON:ABF - Get Free Report) last released its earnings results on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The firm had revenue of GBX 1,945.90 billion for the quarter. Sell-side analysts predict that Associated British Foods plc will post 188.0990415 EPS for the current fiscal 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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