Associated British Foods (OTCMKTS:ASBFY) Downgraded to Hold Rating by Kepler Capital Markets

Kepler Capital Markets cut shares of Associated British Foods (OTCMKTS:ASBFY) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks reports.

Separately, Zacks Research raised shares of Associated British Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Associated British Foods currently has an average rating of “Reduce”.

Associated British Foods Stock Performance

Shares of ASBFY opened at $24.78 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $27.39 and a 200-day moving average price of $25.96. Associated British Foods has a 12-month low of $23.36 and a 12-month high of $31.11.

About Associated British Foods

Associated British Foods plc is a diversified international food, ingredients, agriculture and retail group. The company operates through five principal businesses: Grocery, Ingredients, Agriculture, Sugar and Retail. Its food products include tea, coffee, cereal, bread, baking ingredients, condiments and other grocery items sold under brands such as Twinings, Ovaltine, Jordans, Ryvita, Kingsmill and Silver Spoon.

Through its ingredients operations, Associated British Foods supplies yeast, bakery ingredients and other specialty ingredients to food manufacturers and commercial bakeries.