Associated British Foods (LON:ABF) Receives “Buy” Rating from Shore Capital

Shore Capital reissued their buy rating on shares of Associated British Foods (LON:ABF) in a research note released on Tuesday morning, Marketbeat Ratings reports.

Separately, Deutsche Bank Aktiengesellschaft downgraded Associated British Foods to a sell rating and reduced their price target for the stock from GBX 2,290 ($30.11) to GBX 2,190 ($28.80) in a research report on Tuesday, August 27th.

Associated British Foods Stock Performance

ABF opened at GBX 2,496 ($32.82) on Tuesday. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93. The business has a fifty day simple moving average of GBX 2,476.24 and a 200 day simple moving average of GBX 2,488.05. Associated British Foods has a 1 year low of GBX 1,907.50 ($25.08) and a 1 year high of GBX 2,770.66 ($36.43). The company has a market capitalization of £18.46 billion, a PE ratio of 1,610.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.24.

Insider Activity at Associated British Foods

In other Associated British Foods news, insider Dame Heather Rabbatts purchased 395 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of GBX 2,512 ($33.03) per share, with a total value of £9,922.40 ($13,047.21). 57.88% of the stock is currently owned by company insiders.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, 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.