Royal Bank Of Canada Downgrades Associated British Foods (OTCMKTS:ASBFY) to Strong Sell

Associated British Foods (OTCMKTS:ASBFY) was downgraded by Royal Bank Of Canada from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Sanford C. Bernstein lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Zacks Research downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Jefferies Financial Group downgraded shares of Associated British Foods from a “hold” rating to an “underperform” rating in a report on Monday, December 15th. Finally, The Goldman Sachs Group downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Associated British Foods currently has an average rating of “Reduce”.

Associated British Foods Trading Down 1.2%

Shares of ASBFY stock opened at $25.68 on Monday. The company has a 50 day moving average of $25.55 and a 200-day moving average of $27.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.75 and a current ratio of 1.54. Associated British Foods has a 12-month low of $23.36 and a 12-month high of $31.96.

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.