Associated British Foods PLC (OTCMKTS:ASBFY) Shares Shorted: Short Interest Down 86.7% in September

Associated British Foods PLC (OTCMKTS:ASBFY) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 2,907 shares, a decline of 86.7% from the August 31st total of 21,907 shares. Based on an average trading volume of 87,799 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Associated British Foods Trading Up 0.6%

Shares of ASBFY stock traded up $0.15 during trading hours on Friday, hitting $24.72. 26,082 shares of the company were exchanged, compared to its average volume of 115,442. Associated British Foods has a one year low of $23.36 and a one year high of $31.11. The business’s 50-day simple moving average is $27.14 and its two-hundred day simple moving average is $25.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51.

Analysts Set New Price Targets

A number of brokerages recently commented on ASBFY. Kepler Capital Markets downgraded Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 16th. Zacks Research upgraded Associated British Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Three 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, Associated British Foods has an average rating of “Reduce”.

Associated British Foods Company Profile

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.