Associated British Foods (OTCMKTS:ASBFY) Trading Down 8.1% – Here’s What Happened

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) fell 8.1% on Friday . The stock traded as low as $25.3360 and last traded at $25.3360. Approximately 844 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 115,812 shares. The stock had previously closed at $27.56.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Associated British Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Associated British Foods Price Performance

The stock’s 50-day moving average is $27.47 and its 200-day moving average is $26.00. The company has a current ratio of 1.51, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26.

About Associated British Foods

Associated British Foods plc is a diversified international food, ingredients, agriculture and retail group. The company operates through five principal businesses: Grocery, Ingredients, Agriculture, Sugar and Retail. Its food products include tea, coffee, cereal, bread, baking ingredients, condiments and other grocery items sold under brands such as Twinings, Ovaltine, Jordans, Ryvita, Kingsmill and Silver Spoon.

Through its ingredients operations, Associated British Foods supplies yeast, bakery ingredients and other specialty ingredients to food manufacturers and commercial bakeries.