Associated British Foods (OTCMKTS:ASBFY) Rating Lowered to “Strong Sell” at Zacks Research

Associated British Foods (OTCMKTS:ASBFY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Royal Bank Of Canada lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. Finally, Sanford C. Bernstein downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Associated British Foods has a consensus rating of “Reduce”.

Associated British Foods Stock Performance

ASBFY stock opened at $25.05 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.69. Associated British Foods has a 12 month low of $23.36 and a 12 month high of $31.96. The firm has a 50-day moving average price of $25.20 and a 200-day moving average price of $27.04.

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.