Associated British Foods (OTCMKTS:ASBFY) Stock Dropped to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Associated British Foods (OTCMKTS:ASBFY) from a hold rating to a strong sell rating in a research note released on Thursday morning,Zacks reports.

Separately, Kepler Capital Markets lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell”.

Associated British Foods Price Performance

Associated British Foods stock opened at $24.36 on Thursday. Associated British Foods has a 12-month low of $23.36 and a 12-month high of $31.11. The company has a 50-day moving average price of $26.86 and a 200 day moving average price of $25.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51.

About Associated British Foods

Associated British Foods plc is a diversified international food, ingredients, agriculture and retail group. Its food businesses produce and market grocery products, including bread, cereals, sugar, tea, coffee, condiments, cooking ingredients and specialty foods. The company’s portfolio includes brands such as Twinings, Ovaltine, Jordans, Ryvita, Silver Spoon, Kingsmill and Patak’s, alongside a range of private-label products.

Through ABF Ingredients, the company supplies yeast, enzymes, bakery ingredients, specialty ingredients and other food-processing products to commercial customers.