Associated British Foods PLC (OTCMKTS:ASBFY) Receives Average Rating of “Reduce” from Brokerages

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) have been given an average rating of “Reduce” by the six brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company.

A number of research firms recently commented on ASBFY. The Goldman Sachs Group cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Royal Bank Of Canada cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Zacks Research cut shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Sanford C. Bernstein cut shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th.

Associated British Foods Price Performance

Shares of OTCMKTS:ASBFY opened at $24.72 on Thursday. Associated British Foods has a 52 week low of $23.36 and a 52 week high of $31.96. The firm has a fifty day simple moving average of $25.29 and a two-hundred day simple moving average of $27.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.69.

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.