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

Associated British Foods plc (LON:ABF) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,147.79 and traded as high as GBX 2,150. Associated British Foods shares last traded at GBX 2,142, with a volume of 44,748,672 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ABF shares. Citigroup boosted their price target on shares of Associated British Foods from GBX 1,830 to GBX 1,840 and gave the stock a “sell” rating in a research report on Monday, November 10th. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Tuesday, November 4th. JPMorgan Chase & Co. decreased their target price on Associated British Foods from GBX 2,215 to GBX 2,095 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Associated British Foods to a “hold” rating and lowered their target price for the stock from GBX 2,130 to GBX 2,000 in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 2,058.75.

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 fifty day moving average price of GBX 2,164.23 and a 200 day moving average price of GBX 2,147.64. The stock has a market cap of £15.08 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.51 and a beta of 1.24.

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

Insider Transactions at Associated British Foods

In other news, insider Eoin Tonge sold 34,818 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total value of £732,222.54. Also, insider George G. Weston sold 43,660 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of GBX 2,103, for a total value of £918,169.80. Corporate insiders own 1.50% of the company’s stock.

Associated British Foods Company Profile

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.