Associated British Foods (LON:ABF) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Associated British Foods plc (LON:ABF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,916.77 and traded as high as GBX 1,956.50. Associated British Foods shares last traded at GBX 1,956.50, with a volume of 723,678 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ABF. Deutsche Bank Aktiengesellschaft dropped their price target on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a research note on Tuesday, May 26th. Citigroup lowered their target price on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating on the stock in a report on Tuesday, June 16th. JPMorgan Chase & Co. dropped their target price on Associated British Foods from GBX 1,940 to GBX 1,780 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Shore Capital Group restated a “hold” rating on shares of Associated British Foods in a research note on Friday, April 17th. Finally, Royal Bank Of Canada lowered shares of Associated British Foods to an “underperform” rating and reduced their price target for the company from GBX 2,050 to GBX 1,850 in a research report on Monday, April 13th. Three investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of GBX 1,708.

Associated British Foods Stock Up 3.8%

The company has a fifty day simple moving average of GBX 1,852.61 and a 200-day simple moving average of GBX 1,916.77. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63. The firm has a market cap of £13.69 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81.

Associated British Foods (LON:ABF) last issued its quarterly earnings results on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%.The business had revenue of GBX 1,945.90 billion during the quarter. On average, equities analysts anticipate that Associated British Foods plc will post 188.0990415 earnings per share for the current year.

Insider Activity

In other news, insider Loraine Woodhouse bought 1,074 shares of Associated British Foods stock in a transaction that occurred on Wednesday, April 22nd. The stock was bought at an average cost of GBX 1,853 per share, with a total value of £19,901.22. Company insiders own 1.52% of the company’s stock.

About Associated British Foods

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.