Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Down 98.4% in July

Associated British Foods PLC (OTCMKTS:ASBFY) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 8,786 shares, a decline of 98.4% from the June 30th total of 542,176 shares. Based on an average daily volume of 246,290 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Associated British Foods Trading Up 1.3%

Associated British Foods stock traded up $0.35 during trading hours on Friday, hitting $26.59. The company had a trading volume of 44,601 shares, compared to its average volume of 135,779. Associated British Foods has a fifty-two week low of $23.36 and a fifty-two week high of $31.96. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average is $25.76 and its 200-day moving average is $25.62.

Analysts Set New Price Targets

Several brokerages have recently commented on ASBFY. Royal Bank Of Canada cut Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Zacks Research lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Associated British Foods Company Profile

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.