Zacks Research Downgrades Associated British Foods (OTCMKTS:ASBFY) to Hold

Associated British Foods (OTCMKTS:ASBFY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

ASBFY has been the topic of a number of other reports. Sanford C. Bernstein cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Jefferies Financial Group downgraded Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. Finally, The Goldman Sachs Group downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Associated British Foods Trading Up 0.5%

Shares of OTCMKTS ASBFY opened at $25.02 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.54 and a quick ratio of 0.75. The firm’s 50-day moving average price is $26.25 and its two-hundred day moving average price is $27.92. Associated British Foods has a 52-week low of $23.62 and a 52-week 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.