Associated British Foods (LON:ABF) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

Associated British Foods plc (LON:ABF) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 1,914.73 and traded as high as GBX 1,929.50. Associated British Foods shares last traded at GBX 1,915, with a volume of 688,173 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Associated British Foods from GBX 1,550 to GBX 1,520 and set a “sector perform” rating for the company in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. dropped their target price on shares of Associated British Foods from GBX 1,700 to GBX 1,645 and set a “neutral” rating for the company in a research report on Friday, September 11th. Finally, Shore Capital Group restated a “hold” rating and set a GBX 1,910 price target on shares of Associated British Foods in a report on Tuesday, October 6th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of GBX 1,782.14.

Associated British Foods Stock Performance

The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 32.63. The business’s 50 day moving average is GBX 1,917.09 and its 200 day moving average is GBX 1,914.73. The stock has a market capitalization of £13.37 billion, a PE ratio of 14.37, a PEG ratio of 1.51 and a beta of 0.81.

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.