Associated British Foods plc (LON:ABF) Receives Average Rating of “Buy” from Analysts

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Shares of Associated British Foods plc (LON:ABF) have been assigned a consensus recommendation of “Buy” from the fifteen analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is GBX 2,853.36 ($37.28).

Several brokerages have recently issued reports on ABF. Kepler Capital Markets raised their price target on Associated British Foods from GBX 2,800 ($36.59) to GBX 2,900 ($37.89) and gave the company a “buy” rating in a research report on Thursday, April 25th. Liberum Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Tuesday, July 2nd. Barclays reaffirmed an “overweight” rating and issued a GBX 3,400 ($44.43) price target on shares of Associated British Foods in a research report on Friday, July 5th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Associated British Foods in a research report on Wednesday, July 3rd. Finally, Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Thursday, July 4th.

Shares of LON:ABF traded up GBX 43 ($0.56) during midday trading on Friday, hitting GBX 2,303 ($30.09). The company’s stock had a trading volume of 1,356,550 shares, compared to its average volume of 972,940. The stock has a market capitalization of $18.23 billion and a price-to-earnings ratio of 19.89. The stock’s 50 day simple moving average is GBX 2,382.06 and its 200 day simple moving average is GBX 2,416.32. Associated British Foods has a fifty-two week low of GBX 2,011 ($26.28) and a fifty-two week high of GBX 2,659 ($34.74). The company has a debt-to-equity ratio of 8.60, a quick ratio of 0.89 and a current ratio of 1.73.

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, 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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