Associated British Foods (OTCMKTS:ASBFY) Sees Strong Trading Volume – Here’s What Happened

Associated British Foods PLC (OTCMKTS:ASBFY) shares saw an uptick in trading volume on Monday . 594,086 shares were traded during mid-day trading, an increase of 449% from the previous session’s volume of 108,277 shares.The stock last traded at $25.64 and had previously closed at $25.99.

Analyst Ratings Changes

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

Associated British Foods Trading Down 1.1%

The company has a quick ratio of 0.75, a current ratio of 1.54 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average price of $25.56 and a two-hundred day moving average price of $27.31.

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.