Associated British Foods (OTCMKTS:ASBFY) Shares Gap Down – Here’s Why

Associated British Foods PLC (OTCMKTS:ASBFY) shares gapped down before the market opened on Thursday . The stock had previously closed at $29.26, but opened at $25.24. Associated British Foods shares last traded at $25.30, with a volume of 57,245 shares trading hands.

Wall Street Analyst Weigh In

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

Associated British Foods Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. The business has a 50-day moving average price of $28.71 and a 200-day moving average price of $29.11.

Associated British Foods Company Profile

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.