Associated British Foods (OTCMKTS:ASBFY) Sees Strong Trading Volume – Here’s What Happened

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) saw unusually-strong trading volume on Wednesday . Approximately 462,585 shares were traded during trading, an increase of 233% from the previous session’s volume of 139,062 shares.The stock last traded at $26.18 and had previously closed at $26.49.

Analysts Set New Price Targets

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

Associated British Foods Stock Up 1.2%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51. The company’s 50 day moving average is $25.32 and its 200 day moving average is $25.74.

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.