Associated British Foods (OTCMKTS:ASBFY) Shares Pass Below 50-Day Moving Average – Here’s Why

Associated British Foods PLC (OTCMKTS:ASBFY)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $26.77 and traded as low as $26.53. Associated British Foods shares last traded at $26.6160, with a volume of 34,252 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Sanford C. Bernstein downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Zacks Research raised Associated British Foods from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Kepler Capital Markets upgraded Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Finally, Jefferies Financial Group cut Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold”.

Associated British Foods Price Performance

The business has a 50-day simple moving average of $26.77 and a 200 day simple moving average of $28.28. The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28.

Associated British Foods Company Profile

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.