Associated British Foods (LON:ABF) Stock Crosses Above 200 Day Moving Average – What’s Next?

Associated British Foods plc (LON:ABF)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,904.99 and traded as high as GBX 1,992. Associated British Foods shares last traded at GBX 1,988, with a volume of 712,568 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on ABF. UBS Group reiterated a “neutral” rating and issued a GBX 2,050 price target on shares of Associated British Foods in a research note on Friday, June 26th. Shore Capital Group restated a “hold” rating and set a GBX 2,010 price objective on shares of Associated British Foods in a research note on Thursday, July 2nd. Royal Bank Of Canada downgraded Associated British Foods to an “underperform” rating and reduced their target price for the stock from GBX 2,050 to GBX 1,850 in a report on Monday, April 13th. Citigroup decreased their target price on Associated British Foods from GBX 1,450 to GBX 1,410 and set a “sell” rating for the company in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. lowered their price target on Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating for the company in a report on Friday, July 3rd. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of GBX 1,788.57.

Associated British Foods Trading Up 1.6%

The firm has a market cap of £13.91 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.51 and a beta of 0.81. The business’s 50-day moving average is GBX 1,879 and its two-hundred day moving average is GBX 1,904.99. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 32.63.

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

Insider Activity

In related news, insider Loraine Woodhouse purchased 1,074 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were acquired at an average price of GBX 1,853 per share, with a total value of £19,901.22. Company insiders own 1.52% of the company’s stock.

About Associated British Foods

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.