Associated British Foods PLC (OTCMKTS:ASBFY) Sees Significant Decrease in Short Interest

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 8,786 shares, a drop of 98.4% from the June 30th total of 542,176 shares. Based on an average daily volume of 246,290 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

ASBFY has been the topic of several research analyst reports. Zacks Research cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Royal Bank Of Canada lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Associated British Foods Trading Up 1.3%

Shares of OTCMKTS:ASBFY opened at $26.59 on Friday. The company’s fifty day moving average price is $25.81 and its 200-day moving average price is $25.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.69. Associated British Foods has a one year low of $23.36 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.