Associated British Foods (LON:ABF – Get Free Report) had its price objective dropped by research analysts at Citigroup from £141 to £133 in a note issued to investors on Thursday,London Stock Exchange reports. The firm currently has a “sell” rating on the stock.
Several other equities analysts have also recently commented on ABF. Royal Bank Of Canada cut shares of Associated British Foods to an “underperform” rating and reduced their price target for the stock from GBX 2,050 to GBX 1,850 in a research report on Monday, April 13th. JPMorgan Chase & Co. cut 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 research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a report on Tuesday, May 26th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,650 price target on shares of Associated British Foods in a report on Wednesday. Finally, Shore Capital Group reissued a “hold” rating on shares of Associated British Foods in a research report on Friday, April 17th. Four research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of GBX 3,746.67.
View Our Latest Stock Report on ABF
Associated British Foods Price Performance
Associated British Foods (LON:ABF – Get Free Report) last released its quarterly earnings results 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 net margin of 4.89% and a return on equity of 8.44%. Sell-side analysts expect that Associated British Foods will post 188.0990415 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Associated British Foods news, insider Loraine Woodhouse bought 1,074 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average price of GBX 1,853 per share, with a total value of £19,901.22. 1.52% of the stock is currently owned by company insiders.
Key Associated British Foods News
Here are the key news stories impacting Associated British Foods this week:
- Positive Sentiment: Primark sales are still edging higher, and management says the retailer’s growth is helping offset some of the weakness in the sugar division. Associated British Foods maintains full-year outlook as Primark growth offsets Sugar challenges (ABF)
- Positive Sentiment: AB Foods reiterated its full-year outlook, suggesting the business remains on track despite the tougher operating backdrop. Primark owner AB Foods still expects lower annual profit
- Neutral Sentiment: Primark remains on track for a possible separation from parent AB Foods by the end of 2027, which could eventually unlock value but does not change near-term fundamentals. Primark on track to split from parent company by the end of 2027
- Negative Sentiment: AB Foods warned of a significant hit to profits from its sugar business, with lower prices, higher gas costs, and war-related disruptions weighing on the division. Primark owner AB Foods still expects lower annual profit
- Negative Sentiment: The company also said US cooking oil sales were hurt by pressure on Hispanic customers from ICE activity, adding another headwind to performance. AB Foods says US cooking oil sales hit by ICE pressure on Hispanic customers
- Negative Sentiment: Jefferies reaffirmed an “underperform” rating and set a GBX 1,650 target, reinforcing the cautious analyst view around the stock. Digital Look
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.
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