Associated British Foods (OTCMKTS:ASBFY) Sees Large Volume Increase – Should You Buy?

Associated British Foods PLC (OTCMKTS:ASBFY) saw unusually-high trading volume on Monday . Approximately 548,165 shares traded hands during mid-day trading, an increase of 145% from the previous session’s volume of 224,035 shares.The stock last traded at $29.31 and had previously closed at $28.67.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ASBFY shares. Kepler Capital Markets raised Associated British Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group cut shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Finally, Zacks Research lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Associated British Foods Stock Performance

The business has a fifty day moving average of $28.79 and a 200 day moving average of $29.10. The company has a quick ratio of 0.75, a current ratio of 1.54 and a debt-to-equity ratio of 0.28.

Associated British Foods Company Profile

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.