Associated British Foods plc (LON:ABF) Given Average Recommendation of “Reduce” by Brokerages

Shares of Associated British Foods plc (LON:ABF) have earned an average recommendation of “Reduce” from the seven analysts that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is GBX 1,788.57.

Several research firms have issued reports on ABF. Citigroup decreased their price objective on shares of Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating on the stock in a report on Tuesday, June 16th. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, July 1st. JPMorgan Chase & Co. decreased 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 research note on Friday, July 3rd. Shore Capital Group reiterated a “hold” rating and issued a GBX 2,010 price objective on shares of Associated British Foods in a report on Thursday, July 2nd. Finally, UBS Group reiterated a “neutral” rating and set a GBX 2,050 price objective on shares of Associated British Foods in a research note on Friday, June 26th.

Associated British Foods Trading Down 0.2%

Shares of ABF stock opened at GBX 2,027 on Friday. Associated British Foods has a 1-year low of GBX 1,729.45 and a 1-year high of GBX 2,359. The company has a market cap of £14.18 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.51 and a beta of 0.81. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93. The stock has a 50 day simple moving average of GBX 2,000.33 and a 200-day simple moving average of GBX 1,916.79.

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