Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Down 51.0% in May

Associated British Foods PLC (OTCMKTS:ASBFY) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 60,225 shares, a decline of 51.0% from the April 30th total of 123,003 shares. Based on an average daily trading volume, of 143,280 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Associated British Foods Stock Performance

Shares of ASBFY stock opened at $24.56 on Tuesday. Associated British Foods has a 52-week low of $23.36 and a 52-week high of $31.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51. The firm has a fifty day moving average of $24.91 and a 200-day moving average of $26.23.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Zacks Research lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

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.