Brokerages Set Associated British Foods plc (LON:ABF) PT at GBX 2,823.70
Shares of Associated British Foods plc (LON:ABF) have been assigned a consensus rating of “Buy” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is GBX 2,853.36 ($37.28).
ABF has been the subject of several analyst reports. Barclays restated an “overweight” rating and set a GBX 3,400 ($44.43) target price on shares of Associated British Foods in a research report on Friday, July 5th. Royal Bank of Canada cut their target price on Associated British Foods from GBX 3,000 ($39.20) to GBX 2,900 ($37.89) and set an “outperform” rating for the company in a research report on Thursday, June 6th. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,800 ($36.59) price objective on shares of Associated British Foods in a research report on Monday, July 29th. Credit Suisse Group reiterated an “outperform” rating on shares of Associated British Foods in a research report on Wednesday, July 3rd. Finally, Kepler Capital Markets lifted their price objective on Associated British Foods from GBX 2,800 ($36.59) to GBX 2,900 ($37.89) and gave the company a “buy” rating in a research report on Thursday, April 25th.
Shares of Associated British Foods stock traded up GBX 4 ($0.05) during midday trading on Friday, hitting GBX 2,260 ($29.53). 689,603 shares of the company were exchanged, compared to its average volume of 972,940. The company has a debt-to-equity ratio of 8.60, a quick ratio of 0.89 and a current ratio of 1.73. The company has a market capitalization of $17.82 billion and a price-to-earnings ratio of 19.52. Associated British Foods has a 52 week low of GBX 2,011 ($26.28) and a 52 week high of GBX 2,659 ($34.74). The firm has a 50 day simple moving average of GBX 2,388.76.
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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