Associated British Foods plc (ASBFY) Lowered to Hold at Zacks Investment Research
Associated British Foods plc (NASDAQ:ASBFY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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. “
Separately, Kepler Capital Markets raised Associated British Foods plc from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $46.00.
Associated British Foods plc (ASBFY) traded up 2.07% during mid-day trading on Thursday, hitting $43.33. 4,554 shares of the stock were exchanged. Associated British Foods plc has a 12-month low of $29.84 and a 12-month high of $43.81. The stock has a market capitalization of $34.23 billion and a price-to-earnings ratio of 24.13.
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Associated British Foods plc Company Profile
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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