Associated British Foods (LON:ABF) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Associated British Foods plc (LON:ABF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,904.69 and traded as high as GBX 2,130. Associated British Foods shares last traded at GBX 2,117.67, with a volume of 1,128,743 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,650 target price on shares of Associated British Foods in a research report on Wednesday, July 1st. Citigroup decreased their target price on shares of 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. JPMorgan Chase & Co. lowered their price target on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a report on Friday, July 3rd. Finally, Royal Bank Of Canada downgraded shares of Associated British Foods to an “underperform” rating and dropped their price target for the stock from GBX 2,050 to GBX 1,850 in a research note on Monday, April 13th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of GBX 1,788.57.

Associated British Foods Stock Up 0.2%

The stock has a market cap of £14.84 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.51 and a beta of 0.81. The business has a fifty day moving average of GBX 1,969.22 and a 200 day moving average of GBX 1,906.20. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93.

Associated British Foods (LON:ABF) last posted its earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share (EPS) for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The firm had revenue of GBX 1,945.90 billion during the quarter. On average, equities analysts predict that Associated British Foods plc will post 188.0990415 earnings per share for the current year.

About Associated British Foods

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.