Grupo Santander Upgrades Associated British Foods (OTCMKTS:ASBFY) to Buy
Associated British Foods (OTCMKTS:ASBFY) was upgraded by equities researchers at Grupo Santander from a “hold” rating to a “buy” rating in a report released on Tuesday, The Fly reports.
A number of other research analysts have also recently issued reports on ASBFY. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Associated British Foods in a research note on Wednesday, November 4th. Barclays reiterated an “overweight” rating on shares of Associated British Foods in a research report on Friday, January 8th. Societe Generale upgraded Associated British Foods from a “hold” rating to a “buy” rating in a report on Wednesday, November 11th. Berenberg Bank reaffirmed a “buy” rating on shares of Associated British Foods in a report on Thursday, January 21st. Finally, Zacks Investment Research upgraded shares of Associated British Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, January 5th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $25.00.
OTCMKTS:ASBFY traded up $0.75 on Tuesday, reaching $33.79. The stock had a trading volume of 5,651 shares, compared to its average volume of 5,872. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $26.75 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.39. Associated British Foods has a 1-year low of $18.02 and a 1-year high of $34.03. The stock has a fifty day moving average price of $30.79 and a 200-day moving average price of $27.46.
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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