Associated British Foods (LON:ABF) Shares Cross Above 200 Day Moving Average – Time to Sell?

Associated British Foods plc (LON:ABF – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,913.27 and traded as high as GBX 2,079. Associated British Foods shares last traded at GBX 2,063.36, with a volume of 506,078 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABF shares. UBS Group reaffirmed a “neutral” rating and issued a GBX 2,050 price objective on shares of Associated British Foods in a research report on Friday, June 26th. Shore Capital Group reiterated a “hold” rating and set a GBX 2,010 target price on shares of Associated British Foods in a report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a research note on Friday, July 3rd. Citigroup cut their price target 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, Deutsche Bank Aktiengesellschaft cut their price target 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. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of GBX 1,788.57.

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Associated British Foods Stock Performance

The stock’s 50-day moving average price is GBX 1,991.29 and its 200 day moving average price is GBX 1,913.27. The firm has a market cap of £14.44 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93.

Associated British Foods (LON:ABF – Get Free Report) last released its earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The business had revenue of GBX 1,945.90 billion during the quarter. As a group, equities analysts predict that Associated British Foods plc will post 188.0990415 EPS for the current year.

Associated British Foods Company Profile

(Get Free Report)

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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