ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $37.00 price target on the stock.

According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “

Separately, Goldman Sachs Group raised shares of ASSD BRIT FOODS/ADR from a neutral rating to a buy rating in a research note on Wednesday, November 6th.

Shares of OTCMKTS ASBFY opened at $33.20 on Tuesday. The company has a 50-day simple moving average of $30.78 and a 200-day simple moving average of $29.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.82 and a quick ratio of 1.05. The company has a market cap of $25.56 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. ASSD BRIT FOODS/ADR has a 12 month low of $25.49 and a 12 month high of $34.30.

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.398 per share. The ex-dividend date is Thursday, December 12th. This is a positive change from ASSD BRIT FOODS/ADR’s previous Semi-Annual dividend of $0.39. ASSD BRIT FOODS/ADR’s dividend payout ratio is currently 15.29%.

About ASSD BRIT FOODS/ADR

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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