Short Interest in Associated British Foods PLC (OTCMKTS:ASBFY) Declines By 48.0%

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 4,943 shares, a drop of 48.0% from the February 26th total of 9,509 shares. Based on an average daily volume of 330,765 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s shares are short sold.

Associated British Foods Stock Up 0.1%

OTCMKTS:ASBFY traded up $0.04 during trading hours on Friday, reaching $24.46. 110,251 shares of the stock were exchanged, compared to its average volume of 156,400. Associated British Foods has a twelve month low of $23.36 and a twelve month high of $31.96. The business has a 50-day moving average of $25.68 and a two-hundred day moving average of $27.46. The company has a quick ratio of 0.75, a current ratio of 1.54 and a debt-to-equity ratio of 0.28.

Wall Street Analyst Weigh In

ASBFY has been the topic of several recent analyst reports. Zacks Research lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Jefferies Financial Group downgraded shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Sanford C. Bernstein cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, The Goldman Sachs Group lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

About Associated British Foods

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.