Associated British Foods (OTCMKTS:ASBFY) Shares Gap Up – Time to Buy?

Associated British Foods PLC (OTCMKTS:ASBFY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.05, but opened at $26.11. Associated British Foods shares last traded at $26.21, with a volume of 2,718 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ASBFY shares. Royal Bank Of Canada cut Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Zacks Research cut Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Associated British Foods has a consensus rating of “Reduce”.

Associated British Foods Trading Up 1.7%

The company has a 50 day moving average of $25.02 and a two-hundred day moving average of $26.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51.

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.