Zacks Research Downgrades Associated British Foods (OTCMKTS:ASBFY) to Strong Sell

Associated British Foods (OTCMKTS:ASBFY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

Separately, Kepler Capital Markets lowered shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Strong Sell”.

Associated British Foods Stock Performance

ASBFY stock opened at $24.36 on Thursday. The firm’s fifty day moving average is $26.86 and its 200 day moving average is $25.90. Associated British Foods has a 52 week low of $23.36 and a 52 week high of $31.11. 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 is a diversified international food, ingredients, agriculture and retail group. Its food businesses produce and market grocery products, including bread, cereals, sugar, tea, coffee, condiments, cooking ingredients and specialty foods. The company’s portfolio includes brands such as Twinings, Ovaltine, Jordans, Ryvita, Silver Spoon, Kingsmill and Patak’s, alongside a range of private-label products.

Through ABF Ingredients, the company supplies yeast, enzymes, bakery ingredients, specialty ingredients and other food-processing products to commercial customers.