Associated British Foods (LON:ABF) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Associated British Foods plc (LON:ABF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,916.77 and traded as high as GBX 1,956.50. Associated British Foods shares last traded at GBX 1,956.50, with a volume of 723,678 shares changing hands.

Wall Street Analysts Forecast Growth

ABF has been the subject of a number of analyst reports. Royal Bank Of Canada lowered Associated British Foods to an “underperform” rating and cut their price target for the stock from GBX 2,050 to GBX 1,850 in a report on Monday, April 13th. UBS Group restated a “neutral” rating and issued a GBX 2,050 target price on shares of Associated British Foods in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Shore Capital Group restated a “hold” rating on shares of Associated British Foods in a research report on Friday, April 17th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,650 price target on shares of Associated British Foods in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of GBX 1,765.

Associated British Foods Stock Performance

The business has a 50 day moving average price of GBX 1,854.66 and a 200 day moving average price of GBX 1,915.74. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93. The stock has a market capitalization of £13.85 billion, a PE ratio of 14.85, a PEG ratio of 1.51 and a beta of 0.81.

Associated British Foods (LON:ABF) last announced its quarterly earnings data on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The company had revenue of GBX 1,945.90 billion for the quarter. As a group, equities research analysts expect that Associated British Foods plc will post 188.0990415 earnings per share for the current year.

Insider Buying and Selling

In other Associated British Foods news, insider Loraine Woodhouse bought 1,074 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were acquired at an average cost of GBX 1,853 per share, for a total transaction of £19,901.22. Corporate insiders own 1.52% 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.