Associated British Foods (LON:ABF) Hits New 52-Week Low – Should You Sell?

Associated British Foods plc (LON:ABF) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 1,802.50 and last traded at GBX 1,807, with a volume of 87756961 shares trading hands. The stock had previously closed at GBX 1,860.

Wall Street Analysts Forecast Growth

ABF has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating for the company in a research report on Thursday, January 8th. Shore Capital Group reiterated a “hold” rating on shares of Associated British Foods in a research note on Thursday, January 22nd. Jefferies Financial Group restated an “underperform” rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a research note on Friday, January 9th. Citigroup dropped their price target on Associated British Foods from GBX 1,830 to GBX 1,710 and set a “sell” rating on the stock in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. cut their price target on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating on the stock in a research report on Friday, January 9th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of GBX 1,806.25.

Associated British Foods Trading Down 2.8%

The business’s 50 day simple moving average is GBX 1,903.52 and its 200 day simple moving average is GBX 2,055.23. The company has a debt-to-equity ratio of 33.33, a current ratio of 1.54 and a quick ratio of 0.93. The company has a market capitalization of £12.75 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

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.