Associated British Foods (LON:ABF) Stock Gets Price Target Increase from Deutsche Bank Aktiengesellschaft

Associated British Foods (LON:ABF) had its target price upped by investment analysts at Deutsche Bank Aktiengesellschaft from GBX 1,790 to GBX 1,820 in a research report issued to clients and investors on Friday, Digital Look reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft‘s price objective would indicate a potential downside of 8.34% from the stock’s previous close.

ABF has been the topic of a number of other research reports. Shore Capital Group reaffirmed a “hold” rating and issued a GBX 1,910 price target on shares of Associated British Foods in a report on Tuesday, October 6th. Citigroup reduced their price objective on Associated British Foods from GBX 1,550 to GBX 1,520 and set a “sector perform” rating for the company in a report on Wednesday, September 23rd. JPMorgan Chase & Co. reduced their price objective on Associated British Foods from GBX 1,700 to GBX 1,645 and set a “neutral” rating for the company in a report on Friday, September 11th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,650 target price on shares of Associated British Foods in a research report on Wednesday, November 4th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of GBX 1,777.86.

Associated British Foods Stock Performance

ABF traded down GBX 4.50 during midday trading on Friday, reaching GBX 1,985.50. The company had a trading volume of 855,978 shares, compared to its average volume of 10,071,783. The company has a debt-to-equity ratio of 33.20, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a market cap of £13.88 billion, a PE ratio of 14.90, a P/E/G ratio of 1.51 and a beta of 0.81. Associated British Foods has a 12-month low of GBX 1,729.45 and a 12-month high of GBX 2,288. The business has a 50-day moving average price of GBX 1,907.99 and a two-hundred day moving average price of GBX 1,917.66.

Associated British Foods (LON:ABF) last released its earnings results on Tuesday, November 3rd. The company reported GBX 156 earnings per share for the quarter. Associated British Foods had a net margin of 4.75% and a return on equity of 8.06%. The firm had revenue of GBX 1,958.20 billion during the quarter. On average, sell-side analysts expect that Associated British Foods will post 188.10 earnings per share for the current fiscal year.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.