Shore Capital Reiterates “Buy” Rating for Associated British Foods (ABF)

Associated British Foods (LON:ABF)‘s stock had its “buy” rating reissued by Shore Capital in a research report issued on Friday.

A number of other analysts have also recently weighed in on ABF. Societe Generale raised their price objective on Associated British Foods from GBX 3,600 ($48.82) to GBX 3,650 ($49.50) and gave the stock a “buy” rating in a research report on Friday, September 22nd. Goldman Sachs Group restated a “buy” rating and issued a GBX 3,585 ($48.62) target price on shares of Associated British Foods in a research note on Friday, September 22nd. Credit Suisse Group restated an “outperform” rating and issued a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a research note on Wednesday, September 27th. Deutsche Bank restated a “buy” rating and issued a GBX 3,500 ($47.46) target price on shares of Associated British Foods in a research note on Thursday, October 5th. Finally, Jefferies Group restated a “buy” rating and issued a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of GBX 3,439.37 ($46.64).

Associated British Foods (LON ABF) traded down GBX 5 ($0.07) during trading on Friday, hitting GBX 2,750 ($37.29). The stock had a trading volume of 1,685,963 shares, compared to its average volume of 943,541. The firm has a market cap of $21,770.00 and a PE ratio of 1,809.21. Associated British Foods has a 52-week low of GBX 2,335 ($31.67) and a 52-week high of GBX 3,387 ($45.93).

Associated British Foods (LON:ABF) last posted its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) earnings per share for the quarter, topping the Zacks’ consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). The firm had revenue of GBX 1,535.70 billion during the quarter. Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%.

In other news, insider John Bason sold 21,716 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($41.27), for a total transaction of £660,817.88 ($896,145.76).

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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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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