Deutsche Bank Aktiengesellschaft Lowers Associated British Foods (LON:ABF) Price Target to GBX 1,850

Associated British Foods (LON:ABF) had its price target dropped by Deutsche Bank Aktiengesellschaft from GBX 1,925 to GBX 1,850 in a report issued on Tuesday,Digital Look reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 0.82% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Shore Capital Group reaffirmed a “hold” rating on shares of Associated British Foods in a research note on Friday, April 17th. JPMorgan Chase & Co. lowered their target price on Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Citigroup lowered their target price on Associated British Foods from GBX 1,710 to GBX 1,600 and set a “sell” rating for the company in a research note on Wednesday, April 15th. Royal Bank Of Canada downgraded Associated British Foods to an “underperform” rating and lowered their target price for the stock from GBX 2,050 to GBX 1,850 in a research note on Monday, April 13th. Finally, Jefferies Financial Group reissued an “underperform” rating and set a GBX 1,650 target price on shares of Associated British Foods in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Associated British Foods currently has a consensus rating of “Reduce” and an average target price of GBX 1,746.

Associated British Foods Stock Down 0.1%

ABF stock opened at GBX 1,835 on Tuesday. The company has a market cap of £12.87 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The business has a 50-day simple moving average of GBX 1,842.67 and a 200 day simple moving average of GBX 1,959.32. Associated British Foods has a 52 week low of GBX 1,729.45 and a 52 week high of GBX 2,359. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63.

Associated British Foods (LON:ABF) last posted its quarterly earnings results on Tuesday, April 21st. The company reported GBX 62.70 EPS for the quarter. The business had revenue of GBX 947 billion during the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%. Sell-side analysts anticipate that Associated British Foods will post 188.0990415 EPS for the current fiscal year.

Insider Activity

In other news, insider Loraine Woodhouse acquired 1,074 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was bought at an average price of GBX 1,853 per share, with a total value of £19,901.22. 1.51% of the stock is owned by corporate insiders.

About Associated British Foods

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.