Associated British Foods (LON:ABF) Downgraded by Deutsche Bank Aktiengesellschaft

Associated British Foods (LON:ABF) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft to a “sell” rating in a research note issued to investors on Tuesday, Digital Look reports. They currently have a GBX 2,190 ($28.88) target price on the stock, down from their prior target price of GBX 2,290 ($30.20). Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 12.78% from the company’s current price.

Separately, JPMorgan Chase & Co. increased their price target on shares of Associated British Foods from GBX 2,000 ($26.37) to GBX 2,250 ($29.67) and gave the stock a “neutral” rating in a research note on Tuesday, April 30th.

Associated British Foods Trading Down 0.1 %

Shares of ABF traded down GBX 3 ($0.04) during mid-day trading on Tuesday, hitting GBX 2,511 ($33.11). 5,629,344 shares of the company’s stock traded hands, compared to its average volume of 1,026,638. The business’s 50-day moving average price is GBX 2,475.76 and its 200-day moving average price is GBX 2,478.25. Associated British Foods has a 1 year low of GBX 1,907.50 ($25.15) and a 1 year high of GBX 2,770.66 ($36.54). The firm has a market capitalization of £18.57 billion, a P/E ratio of 1,622.08, a PEG ratio of 1.08 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 1.79 and a debt-to-equity ratio of 33.71.

Insiders Place Their Bets

In related news, insider Dame Heather Rabbatts acquired 395 shares of Associated British Foods stock in a transaction on Monday, June 24th. The stock was acquired at an average price of GBX 2,512 ($33.13) per share, for a total transaction of £9,922.40 ($13,085.06). Corporate 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.