Associated British Foods (OTCMKTS:ASBFY) Shares Gap Up – Still a Buy?

Associated British Foods PLC (OTCMKTS:ASBFY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.05, but opened at $26.11. Associated British Foods shares last traded at $26.21, with a volume of 2,718 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on ASBFY. Zacks Research lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Associated British Foods has an average rating of “Reduce”.

Associated British Foods Stock Performance

The company’s fifty day moving average is $25.08 and its two-hundred day moving average is $26.07. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.

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.