Associated British Foods (OTCMKTS:ASBFY) Shares Gap Up – What’s Next?

Associated British Foods PLC (OTCMKTS:ASBFY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $28.59, but opened at $29.61. Associated British Foods shares last traded at $28.6550, with a volume of 834 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Zacks Research cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Jefferies Financial Group lowered shares of Associated British Foods from a “hold” rating to an “underperform” rating in a research report on Monday, December 15th. Finally, Kepler Capital Markets upgraded shares of Associated British Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Associated British Foods Trading Up 0.3%

The company has a 50 day moving average of $29.01 and a 200-day moving average of $29.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54.

About Associated British Foods

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.