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

Associated British Foods (OTCMKTS:ASBFY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. 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. Finally, Sanford C. Bernstein downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Associated British Foods Trading Up 0.5%

OTCMKTS:ASBFY opened at $25.02 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.54 and a quick ratio of 0.75. Associated British Foods has a 1 year low of $23.62 and a 1 year high of $31.96. The business has a fifty day moving average of $26.25 and a 200-day moving average of $27.92.

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.