Associated British Foods (OTCMKTS:ASBFY) Sees Strong Trading Volume – Time to Buy?

Associated British Foods PLC (OTCMKTS:ASBFY) saw strong trading volume on Friday . 440,652 shares traded hands during mid-day trading, an increase of 285% from the previous session’s volume of 114,454 shares.The stock last traded at $24.4150 and had previously closed at $24.75.

Analysts Set New Price Targets

Several equities analysts recently commented on ASBFY shares. Zacks Research raised Associated British Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Kepler Capital Markets lowered Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday. 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.com, the company currently has a consensus rating of “Reduce”.

Associated British Foods Trading Down 1.8%

The company has a current ratio of 1.51, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $27.36 and its 200 day moving average is $25.95.

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.