Associated British Foods PLC (OTCMKTS:ASBFY) Sees Significant Growth in Short Interest

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 72,399 shares, an increase of 97.2% from the December 15th total of 36,709 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 77,284 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 77,284 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ASBFY shares. The Goldman Sachs Group lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday. Zacks Research raised shares of Associated British Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group downgraded Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. Finally, Kepler Capital Markets upgraded Associated British Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Associated British Foods presently has a consensus rating of “Reduce”.

Associated British Foods Trading Up 1.9%

Shares of ASBFY stock opened at $25.37 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. Associated British Foods has a 12-month low of $22.69 and a 12-month high of $31.96. The firm’s 50 day moving average is $28.22 and its 200 day moving average is $29.00.

About Associated British Foods

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.