Associated British Foods’ (ABF) “Buy” Rating Reiterated at Shore Capital

Shore Capital reaffirmed their buy rating on shares of Associated British Foods (LON:ABF) in a report issued on Tuesday morning, Marketbeat Ratings reports.

Separately, Deutsche Bank Aktiengesellschaft cut Associated British Foods to a sell rating and lowered their target price for the stock from GBX 2,290 ($30.11) to GBX 2,190 ($28.80) in a research note on Tuesday, August 27th.

Associated British Foods Trading Down 3.7 %

ABF opened at GBX 2,204 ($28.98) on Tuesday. Associated British Foods has a 12 month low of GBX 1,907.50 ($25.08) and a 12 month high of GBX 2,770.66 ($36.43). The stock has a market capitalization of £16.30 billion, a price-to-earnings ratio of 1,421.94, a PEG ratio of 0.87 and a beta of 1.24. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93. The business has a fifty day moving average price of GBX 2,466.74 and a 200 day moving average price of GBX 2,486.15.

Insiders Place Their Bets

In other Associated British Foods news, insider Dame Heather Rabbatts purchased 395 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was bought at an average cost of GBX 2,512 ($33.03) per share, with a total value of £9,922.40 ($13,047.21). 57.88% of the stock is owned by company insiders.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.