Associated British Foods (OTCMKTS:ASBFY) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $27.67 and traded as low as $25.36. Associated British Foods shares last traded at $25.56, with a volume of 57,691 shares trading hands.

Analyst Upgrades and Downgrades

ASBFY has been the topic of several analyst reports. Zacks Research raised shares of Associated British Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group cut Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Sanford C. Bernstein downgraded Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Kepler Capital Markets upgraded Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, Jefferies Financial Group lowered shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Associated British Foods has an average rating of “Hold”.

Associated British Foods Stock Performance

The firm has a 50-day moving average of $27.67 and a 200 day moving average of $28.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54.

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.