Associated British Foods’ (ABF) “Hold” Rating Reaffirmed at Shore Capital Group

Associated British Foods (LON:ABF)‘s stock had its “hold” rating reaffirmed by investment analysts at Shore Capital Group in a research note issued to investors on Tuesday, October 6th, Digital Look reports. They presently have a GBX 1,910 price target on the stock. Shore Capital Group’s target price would indicate a potential upside of 2.06% from the stock’s previous close.

Several other brokerages have also recently commented on ABF. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,650 price target on shares of Associated British Foods in a research note on Wednesday, July 1st. UBS Group reiterated a “neutral” rating and issued a GBX 2,050 target price on shares of Associated British Foods in a research note on Friday, June 26th. Citigroup decreased their target price on shares of Associated British Foods from GBX 1,550 to GBX 1,520 and set a “sector perform” rating for the company in a research report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Associated British Foods from GBX 1,700 to GBX 1,645 and set a “neutral” rating on the stock in a research report on Friday, September 11th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of GBX 1,782.14.

Associated British Foods Stock Up 0.8%

ABF stock traded up GBX 15.50 during midday trading on Tuesday, reaching GBX 1,871.50. The company had a trading volume of 391,376 shares, compared to its average volume of 9,734,474. The company has a 50 day moving average of GBX 1,957.45 and a two-hundred day moving average of GBX 1,920.49. The company has a market capitalization of £13.07 billion, a P/E ratio of 14.04, a PEG ratio of 1.51 and a beta of 0.81. Associated British Foods has a 1 year low of GBX 1,729.45 and a 1 year high of GBX 2,359. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 32.63.

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.