Associated British Foods (LON:ABF) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Associated British Foods plc (LON:ABF) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,904.99 and traded as high as GBX 1,992. Associated British Foods shares last traded at GBX 1,988, with a volume of 712,568 shares.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABF shares. Shore Capital Group reiterated a “hold” rating and issued a GBX 2,010 price target on shares of Associated British Foods in a research report on Thursday, July 2nd. Royal Bank Of Canada cut shares of Associated British Foods to an “underperform” rating and dropped their target price for the stock from GBX 2,050 to GBX 1,850 in a research report on Monday, April 13th. UBS Group reissued a “neutral” rating and set a GBX 2,050 price target on shares of Associated British Foods in a report on Friday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a research report on Friday, July 3rd. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 1,650 price objective on shares of Associated British Foods in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Associated British Foods has a consensus rating of “Reduce” and a consensus target price of GBX 1,788.57.

Associated British Foods Trading Up 1.6%

The company has a debt-to-equity ratio of 32.63, a quick ratio of 0.93 and a current ratio of 1.51. The stock has a market cap of £13.91 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a 50-day simple moving average of GBX 1,879 and a 200-day simple moving average of GBX 1,904.99.

Associated British Foods (LON:ABF) last announced its earnings results on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a return on equity of 8.44% and a net margin of 4.89%.The company had revenue of GBX 1,945.90 billion for the quarter. On average, sell-side analysts forecast that Associated British Foods plc will post 188.0990415 EPS for the current fiscal year.

Insider Transactions at Associated British Foods

In related news, insider Loraine Woodhouse acquired 1,074 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average price of GBX 1,853 per share, with a total value of £19,901.22. 1.52% 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.