Associated British Foods plc (OTCMKTS:ASBFY) Receives $35.00 Average PT from Analysts

Shares of Associated British Foods plc (OTCMKTS:ASBFY) have earned an average rating of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $35.00.

A number of equities analysts recently weighed in on ASBFY shares. Barclays reiterated an “overweight” rating on shares of Associated British Foods in a research report on Friday, July 2nd. UBS Group restated a “buy” rating on shares of Associated British Foods in a research report on Friday, July 2nd. Zacks Investment Research upgraded Associated British Foods from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, July 7th. Finally, BNP Paribas upgraded Associated British Foods from a “neutral” rating to an “outperform” rating in a research report on Monday, June 28th.

Shares of OTCMKTS:ASBFY traded up $1.14 during midday trading on Friday, reaching $28.76. The company had a trading volume of 16,058 shares, compared to its average volume of 13,410. The company has a quick ratio of 1.01, a current ratio of 1.97 and a debt-to-equity ratio of 0.35. Associated British Foods has a 1-year low of $21.05 and a 1-year high of $35.00. The company has a fifty day simple moving average of $31.83.

The business also recently disclosed a dividend, which will be paid on Friday, July 23rd. Investors of record on Friday, June 4th will be paid a $0.0864 dividend. This represents a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, June 3rd. Associated British Foods’s payout ratio is 6.67%.

About Associated British Foods

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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Analyst Recommendations for Associated British Foods (OTCMKTS:ASBFY)

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