Associated British Foods (OTCMKTS:ASBFY) Downgraded to “Hold” Rating by Sanford C. Bernstein

Sanford C. Bernstein cut shares of Associated British Foods (OTCMKTS:ASBFY) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

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

Associated British Foods Price Performance

Associated British Foods stock opened at $25.14 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.54 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $28.39 and a 200-day simple moving average of $29.05. Associated British Foods has a 12-month low of $22.69 and a 12-month high of $31.96.

Associated British Foods Company Profile

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.