Associated British Foods (LON:ABF) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Associated British Foods shares crossed above their 200-day moving average, reaching GBX 1,929.50 before last trading at GBX 1,915 on volume of 688,173 shares.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and two rate it Sell, resulting in a consensus rating of “Reduce” and an average price target of GBX 1,782.14.
• ABF has a market capitalization of approximately £13.37 billion, a P/E ratio of 14.37, and a debt-to-equity ratio of 32.63.

Shares of Associated British Foods plc (LON:ABF - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 1,914.73 and traded as high as GBX 1,929.50. Associated British Foods shares last traded at GBX 1,915, with a volume of 688,173 shares changing hands.

Wall Street Analyst Weigh In

ABF has been the subject of several analyst reports. Shore Capital Group reaffirmed a "hold" rating and set a GBX 1,910 price objective on shares of Associated British Foods in a research report on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price objective on shares of Associated British Foods from GBX 1,700 to GBX 1,645 and set a "neutral" rating on the stock in a research note on Friday, September 11th. Finally, Citigroup reduced their target price on shares of Associated British Foods from GBX 1,550 to GBX 1,520 and set a "sector perform" rating for the company in a report on Wednesday, September 23rd. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of GBX 1,782.14.

Associated British Foods Trading Up 1.6%

The business's fifty day moving average is GBX 1,917.09 and its 200-day moving average is GBX 1,914.73. The stock has a market capitalization of £13.37 billion, a PE ratio of 14.37, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63.

Associated British Foods Company Profile

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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