Associated British Foods (LON:ABF) Shares Cross Above 200-Day Moving Average – Time to Sell?

Shares of Associated British Foods plc (LON:ABF) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,924.28 and traded as high as GBX 2,060. Associated British Foods shares last traded at GBX 2,041, with a volume of 1,001,637 shares changing hands.

Analyst Ratings Changes

ABF has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a research report on Friday, July 3rd. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, July 1st. Shore Capital Group reaffirmed a “hold” rating and set a GBX 2,010 price objective on shares of Associated British Foods in a research note on Thursday, July 2nd. UBS Group reaffirmed a “neutral” rating and set a GBX 2,050 price objective on shares of Associated British Foods in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Associated British Foods presently has an average rating of “Reduce” and a consensus price target of GBX 1,808.57.

Associated British Foods Stock Performance

The business has a fifty day moving average of GBX 2,027.16 and a 200-day moving average of GBX 1,924.78. The company has a market cap of £14.28 billion, a PE ratio of 15.31, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 32.63.

Associated British Foods (LON:ABF) last released its quarterly earnings data on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. The business had revenue of GBX 1,945.90 billion during the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%. Equities research analysts anticipate that Associated British Foods plc will post 188.0990415 earnings per share for the current fiscal year.

Associated British Foods Company Profile

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.