Zacks Investment Research cut shares of Associated British Foods (OTCMKTS:ASBFY) from a buy rating to a sell rating in a research note issued to investors on Tuesday, December 19th.
According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “
Several other research analysts have also recently weighed in on ASBFY. Goldman Sachs Group cut shares of Associated British Foods from a buy rating to a neutral rating in a research report on Tuesday, November 7th. Morgan Stanley cut shares of Associated British Foods from an overweight rating to an equal weight rating in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $43.00.
Shares of Associated British Foods (ASBFY) traded up $0.67 on Tuesday, reaching $38.89. 5,094 shares of the company’s stock traded hands, compared to its average volume of 63,978. Associated British Foods has a 52 week low of $30.01 and a 52 week high of $45.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 1.65.
The company also recently declared a None dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.352 per share. The ex-dividend date is Thursday, December 14th.
About Associated British Foods
Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.
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