Associated British Foods (OTCMKTS:ASBFY) Shares Gap Down – What’s Next?

Associated British Foods PLC (OTCMKTS:ASBFY)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $27.56, but opened at $24.82. Associated British Foods shares last traded at $25.06, with a volume of 15,701 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Associated British Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Associated British Foods Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51. The stock’s 50 day simple moving average is $27.49 and its 200 day simple moving average is $26.01.

About Associated British Foods

Associated British Foods plc is a diversified international food, ingredients, agriculture and retail group. The company operates through five principal businesses: Grocery, Ingredients, Agriculture, Sugar and Retail. Its food products include tea, coffee, cereal, bread, baking ingredients, condiments and other grocery items sold under brands such as Twinings, Ovaltine, Jordans, Ryvita, Kingsmill and Silver Spoon.

Through its ingredients operations, Associated British Foods supplies yeast, bakery ingredients and other specialty ingredients to food manufacturers and commercial bakeries.