Associated British Foods’ (LON:ABF) Overweight Rating Reaffirmed at Barclays

Associated British Foods (LON:ABF)‘s stock had its “overweight” rating reaffirmed by research analysts at Barclays in a research note issued to investors on Wednesday, June 5th, ThisIsMoney.Co.Uk reports.

A number of other research firms have also recently commented on ABF. Credit Suisse Group lifted their target price on Associated British Foods from GBX 2,630 ($34.37) to GBX 2,750 ($35.93) and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Kepler Capital Markets lifted their target price on Associated British Foods from GBX 2,800 ($36.59) to GBX 2,900 ($37.89) and gave the stock a “buy” rating in a research report on Thursday, April 25th. UBS Group reiterated a “buy” rating on shares of Associated British Foods in a research report on Friday, April 12th. Liberum Capital reiterated a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 11th. Finally, Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 2,896.69 ($37.85).

LON:ABF traded down GBX 8 ($0.10) during midday trading on Wednesday, reaching GBX 2,463 ($32.18). The company had a trading volume of 1,368,070 shares, compared to its average volume of 972,940. The firm has a market cap of $19.40 billion and a price-to-earnings ratio of 21.27. The business’s fifty day simple moving average is GBX 2,493.50. Associated British Foods has a 12-month low of GBX 2,011 ($26.28) and a 12-month high of GBX 2,846 ($37.19). The company has a debt-to-equity ratio of 8.60, a current ratio of 1.73 and a quick ratio of 0.89.

Associated British Foods (LON:ABF) last announced its quarterly earnings results on Wednesday, April 24th. The company reported GBX 61.10 ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of GBX 62 ($0.81) by GBX (0.90) (($0.01)). As a group, equities research analysts predict that Associated British Foods will post 14942.9980637 earnings per share for the current fiscal year.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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Analyst Recommendations for Associated British Foods (LON:ABF)

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