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

Associated British Foods (LON:ABF)‘s stock had its “hold” rating reaffirmed by research analysts at Shore Capital Group in a research note issued to investors on Friday,Digital Look reports.

Several other brokerages have also issued reports on ABF. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 1,650 target price on shares of Associated British Foods in a research note on Friday, January 9th. Royal Bank Of Canada lowered Associated British Foods to an “underperform” rating and cut their target price for the stock from GBX 2,050 to GBX 1,850 in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their target price on Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating for the company in a research note on Thursday, January 8th. Citigroup cut 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. Finally, JPMorgan Chase & Co. cut their target price on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating for the company in a research note on Friday, January 9th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of GBX 1,793.

Associated British Foods Price Performance

ABF traded up GBX 29.50 during midday trading on Friday, hitting GBX 1,876. The stock had a trading volume of 179,267,484 shares, compared to its average volume of 8,273,204. The company has a market cap of £13.19 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.51 and a beta of 0.84. The business has a fifty day moving average of GBX 1,893.10 and a 200 day moving average of GBX 2,025.47. The company has a debt-to-equity ratio of 33.33, a quick ratio of 0.93 and a current ratio of 1.54. Associated British Foods has a 1 year low of GBX 1,729.45 and a 1 year high of GBX 2,359.

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.