A number of other brokerages also recently issued reports on ABF. Liberum Capital reiterated a “buy” rating on shares of Associated British Foods in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of Associated British Foods from GBX 2,950 ($38.81) to GBX 3,020 ($39.73) and gave the stock a “buy” rating in a research note on Friday, November 22nd. Goldman Sachs Group upgraded shares of Associated British Foods to a “buy” rating and lifted their price target for the stock from GBX 2,500 ($32.89) to GBX 2,750 ($36.17) in a research note on Thursday, November 7th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research note on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of Associated British Foods from GBX 2,700 ($35.52) to GBX 2,800 ($36.83) and gave the stock an “outperform” rating in a research report on Monday, November 25th. Eleven research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of GBX 2,913 ($38.32).
Shares of Associated British Foods stock opened at GBX 2,660 ($34.99) on Friday. Associated British Foods has a 52-week low of GBX 2,078.81 ($27.35) and a 52-week high of GBX 2,704.27 ($35.57). The company has a 50 day moving average of GBX 2,584.22 and a 200 day moving average of GBX 2,394.86. The company has a quick ratio of 0.91, a current ratio of 1.82 and a debt-to-equity ratio of 6.16. The company has a market capitalization of $21.06 billion and a P/E ratio of 23.94.
In other Associated British Foods news, insider John Bason sold 20,827 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of GBX 2,536 ($33.36), for a total value of £528,172.72 ($694,781.27).
Associated British Foods Company Profile
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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