Associated British Foods (LON:ABF) Price Target Lowered to £133 at Citigroup

Associated British Foods (LON:ABF) had its price target cut by Citigroup from £141 to £133 in a research note issued on Thursday,London Stock Exchange reports. The firm presently has a “sell” rating on the stock.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,650 target price on shares of Associated British Foods in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a research note on Tuesday, May 26th. UBS Group reaffirmed a “neutral” rating and issued a GBX 2,050 price target on shares of Associated British Foods in a research note on Friday, June 26th. Finally, Shore Capital Group reaffirmed a “hold” rating on shares of Associated British Foods in a research note on Friday, April 17th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of GBX 3,746.67.

Associated British Foods Stock Up 0.3%

Associated British Foods stock opened at GBX 1,929.50 on Thursday. The company has a 50-day simple moving average of GBX 1,863.46 and a 200-day simple moving average of GBX 1,911.59. The firm has a market capitalization of £13.50 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a debt-to-equity ratio of 32.63, a quick ratio of 0.93 and a current ratio of 1.51. Associated British Foods has a one year low of GBX 1,729.45 and a one year high of GBX 2,359.

Associated British Foods (LON:ABF) last issued its quarterly earnings data on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. The firm 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%. As a group, equities analysts expect that Associated British Foods will post 188.0990415 earnings per share for the current year.

Insider Buying and Selling at Associated British Foods

In other Associated British Foods news, insider Loraine Woodhouse bought 1,074 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were bought at an average price of GBX 1,853 per share, for a total transaction of £19,901.22. Corporate insiders own 1.52% of the company’s stock.

Key Associated British Foods News

Here are the key news stories impacting Associated British Foods this week:

• Positive Sentiment: Primark sales are still edging higher, and management says the retailer’s growth is helping offset some of the weakness in the sugar division. Associated British Foods maintains full-year outlook as Primark growth offsets Sugar challenges (ABF)
• Positive Sentiment: AB Foods reiterated its full-year outlook, suggesting the business remains on track despite the tougher operating backdrop. Primark owner AB Foods still expects lower annual profit
• Neutral Sentiment: Primark remains on track for a possible separation from parent AB Foods by the end of 2027, which could eventually unlock value but does not change near-term fundamentals. Primark on track to split from parent company by the end of 2027
• Negative Sentiment: AB Foods warned of a significant hit to profits from its sugar business, with lower prices, higher gas costs, and war-related disruptions weighing on the division. Primark owner AB Foods still expects lower annual profit
• Negative Sentiment: The company also said US cooking oil sales were hurt by pressure on Hispanic customers from ICE activity, adding another headwind to performance. AB Foods says US cooking oil sales hit by ICE pressure on Hispanic customers
• Negative Sentiment: Jefferies reaffirmed an “underperform” rating and set a GBX 1,650 target, reinforcing the cautious analyst view around the stock. Digital Look

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.