Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Down 48.0% in March

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 4,943 shares, a decline of 48.0% from the February 26th total of 9,509 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 330,765 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

ASBFY has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Zacks Research downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Jefferies Financial Group cut shares of Associated British Foods from a “hold” rating to an “underperform” rating in a research note on Monday, December 15th. One research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold”.

Associated British Foods Stock Performance

OTCMKTS:ASBFY opened at $24.42 on Friday. 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 stock’s 50 day moving average price is $25.69 and its two-hundred day moving average price is $27.50. Associated British Foods has a 12-month low of $23.36 and a 12-month high of $31.96.

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.