Associated British Foods (LON:ABF) Given New GBX 1,410 Price Target at Citigroup

Associated British Foods (LON:ABF) had its price target cut by equities research analysts at Citigroup from GBX 1,450 to GBX 1,410 in a note issued to investors on Tuesday,London Stock Exchange reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price points to a potential downside of 25.71% from the stock’s previous close.

Several other research analysts have also weighed in on ABF. Shore Capital Group reaffirmed a “hold” rating on shares of Associated British Foods in a research report on Friday, April 17th. JPMorgan Chase & Co. dropped their price objective on Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,650 price objective on shares of Associated British Foods in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating for the company in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada lowered shares of Associated British Foods to an “underperform” rating and dropped their price target for the stock from GBX 2,050 to GBX 1,850 in a research note on Monday, April 13th. Three investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of GBX 1,708.

Associated British Foods Stock Down 1.5%

Shares of LON:ABF traded down GBX 28.50 during trading on Tuesday, reaching GBX 1,898. 1,457,984 shares of the company traded hands, compared to its average volume of 12,555,253. The firm has a fifty day simple moving average of GBX 1,851.64 and a 200 day simple moving average of GBX 1,928.11. 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 has a 1-year low of GBX 1,729.45 and a 1-year high of GBX 2,359. The firm has a market cap of £13.28 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81.

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

Insider Transactions at Associated British Foods

In other Associated British Foods news, insider Loraine Woodhouse purchased 1,074 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were bought at an average cost of GBX 1,853 per share, with a total value of £19,901.22. 1.52% of the stock is owned by company insiders.

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.