Associated British Foods (OTCMKTS:ASBFY) Hits New 12-Month Low – Here’s Why

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $23.93 and last traded at $23.9550, with a volume of 123130 shares changing hands. The stock had previously closed at $24.52.

Analysts Set New Price Targets

ASBFY has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Associated British Foods from a “hold” rating to an “underperform” rating in a research report on Monday, December 15th. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. The Goldman Sachs Group lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, Zacks Research cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Associated British Foods Trading Down 2.2%

The stock has a 50 day moving average price of $25.81 and a 200 day moving average price of $27.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54.

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.