Associated British Foods (ASBFY) Upgraded by Zacks Investment Research to “Buy”

Associated British Foods (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $43.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.73% from the stock’s previous close.

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. “

A number of other research analysts also recently weighed in on ASBFY. Goldman Sachs Group downgraded Associated British Foods from a “buy” rating to a “neutral” rating in a report on Tuesday, November 7th. Morgan Stanley downgraded Associated British Foods from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $43.00.

Associated British Foods (ASBFY) traded down $0.27 during mid-day trading on Tuesday, hitting $38.49. The company’s stock had a trading volume of 8,390 shares, compared to its average volume of 14,249. Associated British Foods has a 1 year low of $30.01 and a 1 year high of $45.22. The company has a current ratio of 1.65, a quick ratio of 0.98 and a debt-to-equity ratio of 0.07.

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Associated British Foods 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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