Associated British Foods (OTCMKTS:ASBFY) Shares Gap Down – Time to Sell?

Associated British Foods PLC (OTCMKTS:ASBFY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $28.63, but opened at $27.51. Associated British Foods shares last traded at $29.5599, with a volume of 809 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Kepler Capital Markets raised shares of Associated British Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Zacks Research cut Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Jefferies Financial Group cut Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Associated British Foods Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. The business has a 50-day moving average price of $28.92 and a two-hundred day moving average price of $29.09.

About Associated British Foods

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.