Associated British Foods (OTCMKTS:ASBFY) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Associated British Foods (OTCMKTS:ASBFY) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, The Goldman Sachs Group lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Associated British Foods Stock Down 0.0%

ASBFY stock opened at $25.04 on Wednesday. The company’s 50-day simple moving average is $25.20 and its 200-day simple moving average is $27.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.69. Associated British Foods has a 52-week low of $23.36 and a 52-week 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.