Associated British Foods PLC (OTCMKTS:ASBFY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Associated British Foods PLC (OTCMKTS:ASBFY) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a strong buy rating on the company.

ASBFY has been the subject of several research analyst reports. 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. The Goldman Sachs Group cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Zacks Research raised Associated British Foods from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Sanford C. Bernstein downgraded Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group lowered shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th.

Associated British Foods Price Performance

ASBFY stock opened at $26.25 on Friday. 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 company has a 50 day simple moving average of $27.24 and a 200 day simple moving average of $28.59. Associated British Foods has a 1 year low of $23.44 and a 1 year high of $31.96.

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.