Associated British Foods plc (ABF) Receives Average Rating of “Buy” from Analysts
Shares of Associated British Foods plc (LON:ABF) have been given an average rating of “Buy” by the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is GBX 2,933.18 ($38.33).
ABF has been the topic of several research reports. Royal Bank of Canada dropped their price target on shares of Associated British Foods from GBX 3,100 ($40.51) to GBX 2,700 ($35.28) and set an “outperform” rating on the stock in a research report on Tuesday, October 16th. UBS Group reiterated a “buy” rating on shares of Associated British Foods in a research report on Wednesday, October 31st. Credit Suisse Group reiterated an “outperform” rating on shares of Associated British Foods in a research report on Thursday, August 23rd. Goldman Sachs Group dropped their price target on shares of Associated British Foods from GBX 2,840 ($37.11) to GBX 2,500 ($32.67) and set a “neutral” rating on the stock in a research report on Tuesday, September 11th. Finally, Barclays reiterated an “overweight” rating on shares of Associated British Foods in a research report on Friday, August 31st.
Associated British Foods stock traded down GBX 25 ($0.33) during midday trading on Monday, hitting GBX 2,399 ($31.35). The company’s stock had a trading volume of 666,261 shares, compared to its average volume of 972,940. Associated British Foods has a 12 month low of GBX 2,476 ($32.35) and a 12 month high of GBX 3,387 ($44.26).
In related news, insider John Bason acquired 18,438 shares of the business’s stock in a transaction on Monday, November 26th. The shares were purchased at an average price of GBX 2,495 ($32.60) per share, for a total transaction of £460,028.10 ($601,108.19).
About Associated British Foods
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, 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.
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