Associated British Foods (OTCMKTS:ASBFY) Downgraded to “Strong Sell” Rating by The Goldman Sachs Group

Associated British Foods (OTCMKTS:ASBFY) was downgraded by equities researchers at The Goldman Sachs Group from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on ASBFY. Zacks Research upgraded Associated British Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Kepler Capital Markets upgraded shares of Associated British Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group cut shares of Associated British Foods from a “hold” rating to an “underperform” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Associated British Foods Stock Performance

Associated British Foods stock opened at $25.14 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. The stock’s fifty day moving average price is $28.39 and its two-hundred day moving average price is $29.05. Associated British Foods has a one year low of $22.69 and a one year high of $31.96.

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.