Associated British Foods (OTCMKTS:ASBFY) Shares Gap Down – Here’s Why

Associated British Foods PLC (OTCMKTS:ASBFY) shares gapped down prior to trading on Thursday . The stock had previously closed at $27.56, but opened at $24.82. Associated British Foods shares last traded at $25.06, with a volume of 15,701 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Associated British Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Associated British Foods Stock Performance

The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $27.49 and a two-hundred day simple moving average of $26.01.

Associated British Foods Company Profile

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.