Associated British Foods (OTCMKTS:ASBFY) Reaches New 1-Year Low – Here’s Why

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) hit a new 52-week low during trading on Thursday . The stock traded as low as $23.93 and last traded at $23.9550, with a volume of 123130 shares trading hands. The stock had previously closed at $24.52.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ASBFY. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group downgraded Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Zacks Research lowered Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group downgraded Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Associated British Foods Stock Down 2.2%

The company’s 50 day simple moving average is $25.81 and its 200-day simple moving average is $27.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.54 and a quick ratio of 0.75.

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.