Associated British Foods (LON:ABF) had its price objective decreased by equities researchers at Barclays from GBX 3,200 ($42.09) to GBX 2,500 ($32.89) in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 31.75% from the company’s previous close.
ABF has been the subject of several other research reports. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a report on Monday, March 16th. UBS Group reaffirmed a “buy” rating on shares of Associated British Foods in a report on Tuesday, March 17th. Credit Suisse Group cut their price objective on Associated British Foods from GBX 2,500 ($32.89) to GBX 2,260 ($29.73) and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Associated British Foods in a report on Tuesday. Finally, Goldman Sachs Group cut their price target on Associated British Foods from GBX 2,960 ($38.94) to GBX 2,530 ($33.28) and set a “buy” rating for the company in a report on Wednesday, March 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of GBX 2,789.55 ($36.69).
Shares of ABF opened at GBX 1,897.50 ($24.96) on Wednesday. The company has a debt-to-equity ratio of 6.16, a current ratio of 1.82 and a quick ratio of 0.91. Associated British Foods has a one year low of GBX 1,554 ($20.44) and a one year high of GBX 2,730 ($35.91). The firm has a market capitalization of $15.13 billion and a P/E ratio of 17.08. The business has a fifty day moving average of GBX 2,257 and a 200 day moving average of GBX 2,397.20.
In related news, insider Graham Allan purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of GBX 2,271 ($29.87) per share, with a total value of £45,420 ($59,747.43).
Associated British Foods Company Profile
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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