Associated British Foods (LON:ABF) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Associated British Foods plc (LON:ABF) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,904.69 and traded as high as GBX 2,130. Associated British Foods shares last traded at GBX 2,117.67, with a volume of 1,128,743 shares trading hands.

Analyst Upgrades and Downgrades

ABF has been the topic of several research reports. Royal Bank Of Canada lowered Associated British Foods to an “underperform” rating and dropped their target price for the stock from GBX 2,050 to GBX 1,850 in a research report on Monday, April 13th. JPMorgan Chase & Co. reduced their price target on Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating for the company in a report on Friday, July 3rd. UBS Group reissued a “neutral” rating and issued a GBX 2,050 price target on shares of Associated British Foods in a research note on Friday, June 26th. Citigroup dropped their price objective on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating on the stock in a report on Tuesday, June 16th. Finally, Shore Capital Group reaffirmed a “hold” rating and set a GBX 2,010 price objective on shares of Associated British Foods in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of GBX 1,788.57.

Associated British Foods Stock Down 0.5%

The firm has a market capitalization of £14.75 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The business’s 50 day moving average is GBX 1,963.24 and its 200-day moving average is GBX 1,904.69. The company has a debt-to-equity ratio of 32.63, a quick ratio of 0.93 and a current ratio of 1.51.

Associated British Foods (LON:ABF) last posted 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 analysts anticipate that Associated British Foods plc will post 188.0990415 EPS for the current fiscal year.

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.