Associated British Foods (OTCMKTS:ASBFY) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Associated British Foods (OTCMKTS:ASBFY) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on ASBFY. Jefferies Financial Group lowered Associated British Foods from a “hold” rating to an “underperform” rating in a research report on Monday, December 15th. The Goldman Sachs Group lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. 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, Kepler Capital Markets upgraded shares of Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Associated British Foods Trading Up 3.0%

Associated British Foods stock opened at $26.43 on Tuesday. 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 has a 12-month low of $22.95 and a 12-month high of $31.96. The firm has a 50-day moving average price of $27.36 and a 200-day moving average price of $28.69.

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.