Associated British Foods (OTCMKTS:ASBFY) Sees Large Volume Increase – Time to Buy?

Associated British Foods PLC (OTCMKTS:ASBFY) shares saw strong trading volume on Friday . 549,862 shares traded hands during trading, an increase of 833% from the previous session’s volume of 58,920 shares.The stock last traded at $28.24 and had previously closed at $28.31.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASBFY. Kepler Capital Markets raised Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. Zacks Research cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Associated British Foods Trading Up 0.2%

The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average price is $29.07 and its 200-day moving average price is $29.06.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.