Associated British Foods (LON:ABF) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Associated British Foods plc (LON:ABF) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,898.80 and traded as high as GBX 2,040. Associated British Foods shares last traded at GBX 2,020, with a volume of 584,931 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Shore Capital Group reissued a “hold” rating and set a GBX 2,010 target price on shares of Associated British Foods in a research note on Thursday, July 2nd. Royal Bank Of Canada lowered shares of Associated British Foods to an “underperform” rating and decreased their price target for the company from GBX 2,050 to GBX 1,850 in a research note on Monday, April 13th. JPMorgan Chase & Co. lowered their price objective on Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Finally, UBS Group reissued a “neutral” rating and set a GBX 2,050 target price on shares of Associated British Foods in a report on Friday, June 26th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of GBX 1,788.57.

Associated British Foods Price Performance

The firm has a market cap of £14.14 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.51 and a beta of 0.80. The stock’s fifty day moving average price is GBX 1,901.84 and its 200-day moving average price is GBX 1,898.80. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93.

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

Insider Activity

In other news, insider Loraine Woodhouse acquired 1,074 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were purchased at an average price of GBX 1,853 per share, for a total transaction of £19,901.22. Corporate insiders own 1.52% of the company’s stock.

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.