Associated British Foods plc (LON:ABF) Given Average Recommendation of “Reduce” by Brokerages

Shares of Associated British Foods plc (LON:ABF) have been given an average rating of “Reduce” by the seven ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is GBX 1,788.57.

Several brokerages have recently issued reports on ABF. Deutsche Bank Aktiengesellschaft decreased their price objective on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating for the company in a report on Tuesday, May 26th. Citigroup reduced their price target on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating for the company in a research report on Tuesday, June 16th. UBS Group reissued a “neutral” rating and issued a GBX 2,050 price target on shares of Associated British Foods in a report on Friday, June 26th. Shore Capital Group restated a “hold” rating and issued a GBX 2,010 price objective on shares of Associated British Foods in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a research note on Friday, July 3rd.

Associated British Foods Trading Down 0.2%

LON ABF opened at GBX 2,011 on Wednesday. The company has a market capitalization of £14.07 billion, a PE ratio of 15.09, a P/E/G ratio of 1.51 and a beta of 0.80. The company has a fifty day moving average of GBX 1,906.37 and a 200 day moving average of GBX 1,898.02. Associated British Foods has a 1 year low of GBX 1,729.45 and a 1 year high of GBX 2,359. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93.

Associated British Foods (LON:ABF) last posted its quarterly earnings results on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. The company had revenue of GBX 1,945.90 billion for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. Research analysts forecast that Associated British Foods will post 188.0990415 earnings per share for the current year.

About Associated British Foods

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.