Associated British Foods (LON:ABF) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Associated British Foods plc (LON:ABF) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,894.02 and traded as high as GBX 2,100. Associated British Foods shares last traded at GBX 2,100, with a volume of 39,786,555 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABF. Jefferies Financial Group reissued an “underperform” rating and set a GBX 1,650 target price on shares of Associated British Foods in a research note on Wednesday, July 1st. 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. UBS Group reiterated a “neutral” rating and issued a GBX 2,050 price objective on shares of Associated British Foods in a report on Friday, June 26th. Citigroup cut their price objective on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating for the company in a research note on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating for the company in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of GBX 1,788.57.

Associated British Foods Stock Performance

The company has a debt-to-equity ratio of 32.63, a quick ratio of 0.93 and a current ratio of 1.51. The firm’s 50 day simple moving average is GBX 1,935.98 and its 200-day simple moving average is GBX 1,895.68. The company has a market cap of £14.73 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.51 and a beta of 0.80.

Associated British Foods (LON:ABF) last released its earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share (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%. On average, sell-side analysts predict that Associated British Foods plc will post 188.0990415 EPS for the current year.

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.