Associated British Foods (LON:ABF) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Associated British Foods plc (LON:ABF) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 2,072.36 and traded as low as GBX 1,832. Associated British Foods shares last traded at GBX 1,852.50, with a volume of 53,592,910 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating on the stock in a research note on Friday, January 9th. Citigroup dropped their price target on shares of Associated British Foods from GBX 1,830 to GBX 1,710 and set a “sell” rating for the company in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating on the stock in a research report on Thursday, January 8th. Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a research note on Friday, January 9th. Finally, Shore Capital Group restated a “hold” rating on shares of Associated British Foods in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of GBX 1,806.25.

Associated British Foods Stock Performance

The firm has a market capitalization of £13.06 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.51 and a beta of 0.89. The company has a debt-to-equity ratio of 33.33, a current ratio of 1.54 and a quick ratio of 0.93. The firm has a 50-day moving average price of GBX 1,932.05 and a two-hundred day moving average price of GBX 2,067.52.

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.