Associated British Foods plc (LON:ABF) Receives GBX 1,765 Average PT from Analysts

Associated British Foods plc (LON:ABF) has been given an average recommendation of “Reduce” by the seven analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is GBX 1,765.

A number of equities analysts have recently issued reports on ABF shares. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Citigroup reduced their target price on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating on the stock in a research report on Tuesday, June 16th. UBS Group reiterated a “neutral” rating and issued a GBX 2,050 price target on shares of Associated British Foods in a research note on Friday, June 26th. Finally, Shore Capital Group reissued a “hold” rating on shares of Associated British Foods in a report on Friday, April 17th.

Associated British Foods Stock Up 0.0%

Associated British Foods stock opened at GBX 1,923.88 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63. The firm has a market cap of £13.46 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.51 and a beta of 0.81. The business has a fifty day moving average of GBX 1,863.46 and a two-hundred day moving average of GBX 1,911.59. Associated British Foods has a twelve month low of GBX 1,729.45 and a twelve month high of GBX 2,359.

Associated British Foods (LON:ABF) last released its quarterly earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. The business had revenue of GBX 1,945.90 billion for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. On average, analysts forecast that Associated British Foods will post 188.0990415 earnings per share for the current fiscal year.

More Associated British Foods News

Here are the key news stories impacting Associated British Foods this week:

• Positive Sentiment: Primark sales are still edging higher, and management says the retailer’s growth is helping offset some of the weakness in the sugar division. Associated British Foods maintains full-year outlook as Primark growth offsets Sugar challenges (ABF)
• Positive Sentiment: AB Foods reiterated its full-year outlook, suggesting the business remains on track despite the tougher operating backdrop. Primark owner AB Foods still expects lower annual profit
• Neutral Sentiment: Primark remains on track for a possible separation from parent AB Foods by the end of 2027, which could eventually unlock value but does not change near-term fundamentals. Primark on track to split from parent company by the end of 2027
• Negative Sentiment: AB Foods warned of a significant hit to profits from its sugar business, with lower prices, higher gas costs, and war-related disruptions weighing on the division. Primark owner AB Foods still expects lower annual profit
• Negative Sentiment: The company also said US cooking oil sales were hurt by pressure on Hispanic customers from ICE activity, adding another headwind to performance. AB Foods says US cooking oil sales hit by ICE pressure on Hispanic customers
• Negative Sentiment: Jefferies reaffirmed an “underperform” rating and set a GBX 1,650 target, reinforcing the cautious analyst view around the stock. Digital Look

Insider Activity at Associated British Foods

In related news, insider Loraine Woodhouse bought 1,074 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was bought at an average cost of GBX 1,853 per share, for a total transaction of £19,901.22. 1.52% of the stock is owned by 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.