Associated British Foods (ASBFY) Lowered to “Hold” at Zacks Investment Research

Associated British Foods (OTCMKTS:ASBFY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

Several other equities research analysts have also issued reports on ASBFY. Morgan Stanley lowered shares of Associated British Foods from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. Barclays upgraded shares of Associated British Foods from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 16th. Finally, Goldman Sachs Group lowered shares of Associated British Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Associated British Foods currently has an average rating of “Hold” and a consensus price target of $41.00.

Shares of Associated British Foods (OTCMKTS:ASBFY) traded down $0.13 during mid-day trading on Thursday, hitting $36.27. 18,761 shares of the stock traded hands, compared to its average volume of 9,256. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.07. Associated British Foods has a 12 month low of $30.74 and a 12 month high of $45.22.

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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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Analyst Recommendations for Associated British Foods (OTCMKTS:ASBFY)

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