Associated British Foods (LON:ABF) Sets New 12-Month Low – Here’s What Happened

Shares of Associated British Foods plc (LON:ABF) hit a new 52-week low on Tuesday . The stock traded as low as GBX 1,584.88 and last traded at GBX 1,894, with a volume of 942494 shares traded. The stock had previously closed at GBX 1,881.50.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating on the stock in a research note on Friday, January 9th. Jefferies Financial Group reissued an “underperform” rating and set a GBX 1,650 target price on shares of Associated British Foods in a research report on Friday, January 9th. Citigroup decreased their price target on shares of Associated British Foods from GBX 1,830 to GBX 1,710 and set a “sell” rating for the company in a report on Monday, January 12th. Shore Capital reiterated a “hold” rating on shares of Associated British Foods in a research note on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating on the stock in a report on Thursday, January 8th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of GBX 1,806.25.

Associated British Foods Stock Performance

The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93. The company has a market capitalization of £13.40 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The firm’s fifty day simple moving average is GBX 2,046.81 and its 200 day simple moving average is GBX 2,130.93.

Associated British Foods (LON:ABF) last issued its earnings results on Tuesday, November 4th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a return on equity of 13.07% and a net margin of 7.25%. On average, research analysts predict that Associated British Foods plc will post 188.0990415 EPS for the current year.

Insider Buying and Selling at Associated British Foods

In other Associated British Foods news, insider George G. Weston sold 43,660 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total value of £918,169.80. Also, insider Eoin Tonge sold 34,818 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total value of £732,222.54. 1.50% of the stock is currently owned by company insiders.

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.