Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Down 98.4% in July

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 8,786 shares, a decline of 98.4% from the June 30th total of 542,176 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 246,290 shares, the days-to-cover ratio is presently 0.0 days.

Associated British Foods Stock Performance

OTCMKTS ASBFY traded up $0.35 on Friday, hitting $26.59. 44,601 shares of the company were exchanged, compared to its average volume of 135,779. 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 has a twelve month low of $23.36 and a twelve month high of $31.96. The company’s 50 day moving average price is $25.76 and its 200-day moving average price is $25.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ASBFY shares. Royal Bank Of Canada downgraded Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Zacks Research cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

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.