Associated British Foods (OTCMKTS:ASBFY) Shares Gap Up – Time to Buy?

Associated British Foods PLC (OTCMKTS:ASBFY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.05, but opened at $26.11. Associated British Foods shares last traded at $26.21, with a volume of 2,718 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Zacks Research cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Associated British Foods presently has an average rating of “Reduce”.

Associated British Foods Stock Performance

The company’s fifty day moving average is $25.02 and its two-hundred day moving average is $26.09. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26.

About Associated British Foods

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.