Associated British Foods (LON:ABF) Stock Price Down 12.2% – Time to Sell?

Associated British Foods plc (LON:ABF) shares fell 12.2% on Thursday . The company traded as low as GBX 1,879.50 and last traded at GBX 1,889.50. 7,933,709 shares changed hands during trading, a decline of 16% from the average session volume of 9,416,833 shares. The stock had previously closed at GBX 2,151.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Associated British Foods from GBX 2,215 to GBX 2,095 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a report on Tuesday, November 4th. Citigroup increased their target price on Associated British Foods from GBX 1,830 to GBX 1,840 and gave the stock a “sell” rating in a report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Associated British Foods to a “hold” rating and lowered their price target for the company from GBX 2,130 to GBX 2,000 in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Associated British Foods currently has a consensus rating of “Hold” and a consensus target price of GBX 2,058.75.

Associated British Foods Stock Down 12.2%

The stock has a market capitalization of £13.37 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.51 and a beta of 1.24. The firm’s fifty day simple moving average is GBX 2,149.47 and its 200 day simple moving average is GBX 2,150.33. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78.

Associated British Foods (LON:ABF) last announced its earnings results on Tuesday, November 4th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a net margin of 7.25% and a return on equity of 13.07%. On average, sell-side analysts forecast that Associated British Foods plc will post 188.0990415 earnings per share for the current year.

Insider Activity at Associated British Foods

In other Associated British Foods news, insider George G. Weston sold 43,660 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of GBX 2,103, for a total value of £918,169.80. Also, insider Eoin Tonge sold 34,818 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total value of £732,222.54. Company insiders own 1.50% of the company’s stock.

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.