Associated British Foods (OTCMKTS:ASBFY) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Associated British Foods (OTCMKTS:ASBFY) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

ASBFY has been the topic of a number of other research reports. The Goldman Sachs Group cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Jefferies Financial Group cut Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Associated British Foods Price Performance

Shares of OTCMKTS ASBFY opened at $25.02 on Tuesday. The firm’s fifty day moving average is $26.25 and its 200 day moving average is $27.92. Associated British Foods has a 52 week low of $23.62 and a 52 week high of $31.96. The company has a quick ratio of 0.75, a current ratio of 1.54 and a debt-to-equity ratio of 0.28.

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.