Liberum Capital restated their buy rating on shares of Associated British Foods (LON:ABF) in a report issued on Tuesday, December 19th. They currently have a GBX 3,500 ($47.46) target price on the stock.
A number of other equities analysts have also issued reports on the company. Deutsche Bank reaffirmed a buy rating and issued a GBX 3,500 ($47.46) target price on shares of Associated British Foods in a research report on Tuesday, October 24th. Macquarie started coverage on Associated British Foods in a research report on Friday, October 27th. They issued an underperform rating and a GBX 2,900 ($39.33) target price on the stock. Morgan Stanley lowered Associated British Foods to an equal weight rating and upped their target price for the company from GBX 2,800 ($37.97) to GBX 3,100 ($42.04) in a research report on Tuesday, November 28th. Goldman Sachs Group reiterated a buy rating and issued a GBX 3,585 ($48.62) price target on shares of Associated British Foods in a report on Monday, September 11th. Finally, Credit Suisse Group reiterated an outperform rating and issued a GBX 3,600 ($48.82) price target on shares of Associated British Foods in a report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. Associated British Foods currently has an average rating of Buy and a consensus price target of GBX 3,395.90 ($46.05).
Associated British Foods (ABF) traded up GBX 7 ($0.09) during trading on Tuesday, reaching GBX 2,825 ($38.31). The company had a trading volume of 1,896,862 shares, compared to its average volume of 869,344. The firm has a market cap of $22,360.00 and a price-to-earnings ratio of 1,858.55. Associated British Foods has a 12-month low of GBX 2,335 ($31.67) and a 12-month high of GBX 3,387 ($45.93).
Associated British Foods (LON:ABF) last announced its earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%. The company had revenue of GBX 1,535.70 billion for the quarter.
The company also recently disclosed a dividend, which was paid on Friday, January 12th. Stockholders of record on Thursday, December 14th were issued a GBX 29.65 ($0.40) dividend. This is a positive change from Associated British Foods’s previous dividend of $11.35. The ex-dividend date was Thursday, December 14th. This represents a dividend yield of 0.97%.
In other news, insider John Bason sold 21,716 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($41.27), for a total value of £660,817.88 ($896,145.76).
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Associated British Foods Company Profile
Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.
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