Associated British Foods (LON:ABF) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Associated British Foods plc (LON:ABF) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,898.80 and traded as high as GBX 2,040. Associated British Foods shares last traded at GBX 2,020, with a volume of 584,931 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ABF shares. 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 for the company in a report on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price target on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a report on Friday, July 3rd. Shore Capital Group restated a “hold” rating and set a GBX 2,010 price objective on shares of Associated British Foods in a report on Thursday, July 2nd. Citigroup cut their target price on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating on the stock in a research report on Tuesday, June 16th. Finally, Royal Bank Of Canada cut Associated British Foods to an “underperform” rating and reduced their target price for the company from GBX 2,050 to GBX 1,850 in a report on Monday, April 13th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of GBX 1,788.57.

Associated British Foods Price Performance

The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93. The company has a market cap of £14.08 billion, a PE ratio of 15.10, a P/E/G ratio of 1.51 and a beta of 0.80. The company has a 50-day moving average price of GBX 1,906.37 and a two-hundred day moving average price of GBX 1,898.02.

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

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.