Citigroup Cuts Associated British Foods (LON:ABF) Price Target to GBX 1,710

Associated British Foods (LON:ABF) had its price target decreased by Citigroup from GBX 1,830 to GBX 1,710 in a research note published on Monday, MarketBeat Ratings reports. Citigroup currently has a sell rating on the stock.

Several other research firms have also recently weighed in on ABF. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,650 target price on shares of Associated British Foods in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating for the company in a research report on Thursday, January 8th. Shore Capital cut shares of Associated British Foods to a “hold” rating in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating for the company in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Associated British Foods has a consensus rating of “Reduce” and an average price target of GBX 1,905.

Associated British Foods Stock Performance

ABF opened at GBX 1,867 on Monday. The business’s 50-day simple moving average is GBX 2,110.20 and its 200 day simple moving average is GBX 2,143.77. Associated British Foods has a 52-week low of GBX 1,810 and a 52-week high of GBX 2,359. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78. The firm has a market capitalization of £13.21 billion, a PE ratio of 13.19, a PEG ratio of 1.51 and a beta of 1.24.

Associated British Foods (LON:ABF) last posted its quarterly earnings results on Tuesday, November 4th. The company reported GBX 174.90 earnings per share for the quarter. Associated British Foods had a return on equity of 13.07% and a net margin of 7.25%. As a group, sell-side analysts expect that Associated British Foods will post 188.0990415 earnings per share for the current fiscal year.

Insider Buying and Selling at Associated British Foods

In related news, insider George G. Weston sold 43,660 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of GBX 2,103, for a total value of £918,169.80. Also, insider Eoin Tonge sold 34,818 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total value of £732,222.54. 1.50% of the stock is owned by company insiders.

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.