Shore Capital Reaffirms “Buy” Rating for Associated British Foods (LON:ABF)

Shore Capital reaffirmed their buy rating on shares of Associated British Foods (LON:ABF) in a research report released on Wednesday, Digital Look reports.

A number of other research analysts also recently commented on ABF. Royal Bank of Canada downgraded Associated British Foods to a sector performer rating and set a GBX 2,850 ($37.49) price objective for the company. in a research note on Tuesday, February 4th. UBS Group restated a buy rating on shares of Associated British Foods in a research note on Wednesday, November 6th. Liberum Capital restated a buy rating on shares of Associated British Foods in a research note on Thursday, January 16th. Barclays restated an overweight rating on shares of Associated British Foods in a research note on Friday, January 17th. Finally, Jefferies Financial Group upped their price objective on Associated British Foods from GBX 2,950 ($38.81) to GBX 3,020 ($39.73) and gave the stock a buy rating in a research note on Friday, November 22nd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Associated British Foods presently has an average rating of Buy and a consensus target price of GBX 2,936.82 ($38.63).

Shares of ABF opened at GBX 2,669 ($35.11) on Wednesday. The company has a market cap of $21.13 billion and a P/E ratio of 24.02. The stock has a fifty day moving average price of GBX 2,640.20 and a 200 day moving average price of GBX 2,432.30. The company has a debt-to-equity ratio of 6.16, a current ratio of 1.82 and a quick ratio of 0.91. Associated British Foods has a 12 month low of GBX 2,078.81 ($27.35) and a 12 month high of GBX 2,730 ($35.91).

In other news, insider John Bason sold 20,827 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of GBX 2,536 ($33.36), for a total value of £528,172.72 ($694,781.27).

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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