Associated British Foods’ (ABF) “Buy” Rating Reiterated at Shore Capital

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

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

Associated British Foods Stock Performance

LON ABF opened at GBX 2,204 ($28.98) on Tuesday. The company has a current ratio of 1.79, a quick ratio of 0.93 and a debt-to-equity ratio of 33.71. The business’s 50 day moving average is GBX 2,466.74 and its two-hundred day moving average is GBX 2,486.15. Associated British Foods has a 12-month low of GBX 1,907.50 ($25.08) and a 12-month high of GBX 2,770.66 ($36.43). The stock has a market capitalization of £16.30 billion, a price-to-earnings ratio of 1,421.94, a PEG ratio of 0.87 and a beta of 1.24.

Insider Activity

In other news, insider Dame Heather Rabbatts acquired 395 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of GBX 2,512 ($33.03) per share, for a total transaction of £9,922.40 ($13,047.21). Company insiders own 57.88% of the company’s stock.

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.