Associated British Foods (LON:ABF) Price Target Lowered to GBX 1,410 at Citigroup

Associated British Foods (LON:ABF) had its price objective lowered by equities research analysts at Citigroup from GBX 1,450 to GBX 1,410 in a report issued on Tuesday,London Stock Exchange reports. The firm presently has a “sell” rating on the stock. Citigroup’s target price indicates a potential downside of 25.71% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Shore Capital Group reissued a “hold” rating on shares of Associated British Foods in a report on Friday, April 17th. Royal Bank Of Canada downgraded shares of Associated British Foods to an “underperform” rating and dropped their target price for the stock from GBX 2,050 to GBX 1,850 in a report on Monday, April 13th. JPMorgan Chase & Co. reduced their target price on shares of Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,650 price objective on shares of Associated British Foods in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Associated British Foods currently has a consensus rating of “Reduce” and an average target price of GBX 1,708.

Associated British Foods Price Performance

LON:ABF traded down GBX 28.50 during midday trading on Tuesday, hitting GBX 1,898. 1,457,984 shares of the stock were exchanged, compared to its average volume of 12,555,253. The company has a market capitalization of £13.28 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.51 and a beta of 0.81. 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 has a one year low of GBX 1,729.45 and a one year high of GBX 2,359. The business has a 50-day moving average price of GBX 1,851.64 and a two-hundred day moving average price of GBX 1,928.11.

Associated British Foods (LON:ABF) last issued its quarterly earnings results on Tuesday, April 21st. The company reported GBX 62.70 earnings per share (EPS) for the quarter. The company had revenue of GBX 947 billion for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%. Sell-side analysts predict that Associated British Foods will post 188.0990415 EPS for the current year.

Insider Activity at Associated British Foods

In other Associated British Foods news, insider Loraine Woodhouse purchased 1,074 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average price of GBX 1,853 per share, for a total transaction of £19,901.22. 1.52% of the stock is currently owned by company insiders.

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.