Associated British Foods plc (LON:ABF) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Associated British Foods plc (LON:ABF) have earned an average recommendation of “Reduce” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 1,746.

A number of equities research analysts have weighed in on ABF shares. JPMorgan Chase & Co. decreased their price objective on Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Royal Bank Of Canada lowered shares of Associated British Foods to an “underperform” rating and lowered their target price for the stock from GBX 2,050 to GBX 1,850 in a report on Monday, April 13th. Citigroup lowered their target price on shares of Associated British Foods from GBX 1,710 to GBX 1,600 and set a “sell” rating on the stock in a report on Wednesday, April 15th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a GBX 1,650 target price on shares of Associated British Foods in a report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a report on Tuesday, May 26th.

Associated British Foods Stock Down 0.4%

LON ABF opened at GBX 1,814 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 32.63. The stock’s 50 day moving average is GBX 1,840.40 and its two-hundred day moving average is GBX 1,944.66. The company has a market capitalization of £12.73 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.51 and a beta of 0.81. Associated British Foods has a 1-year low of GBX 1,729.45 and a 1-year high of GBX 2,359.

Associated British Foods (LON:ABF) last released its quarterly earnings data on Tuesday, April 21st. The company reported GBX 62.70 earnings per share for the quarter. The company had revenue of GBX 947 billion for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%. Equities analysts forecast that Associated British Foods will post 188.0990415 earnings per share for the current fiscal year.

Insider Activity at Associated British Foods

In other Associated British Foods news, insider Loraine Woodhouse bought 1,074 shares of Associated British Foods stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average cost of GBX 1,853 per share, with a total value of £19,901.22. 1.51% of the stock is owned by insiders.

Associated British Foods Company Profile

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.