Associated British Foods (LON:ABF) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Associated British Foods plc (LON:ABF)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,919.22 and traded as high as GBX 2,081. Associated British Foods shares last traded at GBX 2,069, with a volume of 514,400 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABF. Deutsche Bank Aktiengesellschaft lowered their target price on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating for the company in a research note on Tuesday, May 26th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a report on Wednesday, July 1st. Citigroup lowered their price objective on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating for the company in a research report on Tuesday, June 16th. UBS Group restated a “neutral” rating and set a GBX 2,050 target price on shares of Associated British Foods in a report on Friday, June 26th. Finally, Shore Capital Group reaffirmed a “hold” rating and issued a GBX 2,010 target price on shares of Associated British Foods in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of GBX 1,788.57.

Associated British Foods Stock Up 0.7%

The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93. The stock has a 50 day simple moving average of GBX 2,008.75 and a 200-day simple moving average of GBX 1,920.31. The firm has a market cap of £14.55 billion, a PE ratio of 15.60, a PEG ratio of 1.51 and a beta of 0.81.

Associated British Foods (LON:ABF) last released its earnings results on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%.The firm had revenue of GBX 1,945.90 billion for the quarter. Sell-side analysts predict that Associated British Foods plc will post 188.0990415 EPS for the current fiscal year.

Associated British Foods Company Profile

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.