Associated British Foods (LON:ABF) had its target price trimmed by Goldman Sachs Group from GBX 2,960 ($38.94) to GBX 2,530 ($33.28) in a research note published on Wednesday morning, Stock Target Advisor reports. The firm currently has a buy rating on the stock.

ABF has been the topic of several other research reports. Jefferies Financial Group upped their price objective on Associated British Foods from GBX 2,950 ($38.81) to GBX 3,020 ($39.73) and gave the company a buy rating in a research note on Friday, November 22nd. Shore Capital restated a buy rating on shares of Associated British Foods in a research note on Monday, March 16th. Berenberg Bank lowered Associated British Foods to a hold rating in a research note on Wednesday, February 26th. Sanford C. Bernstein dropped their price objective on Associated British Foods from GBX 3,125 ($41.11) to GBX 3,065 ($40.32) and set an outperform rating on the stock in a research note on Thursday, February 27th. Finally, Barclays restated an overweight rating on shares of Associated British Foods in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Associated British Foods has a consensus rating of Buy and a consensus target price of GBX 2,875 ($37.82).

LON:ABF traded up GBX 88.50 ($1.16) on Wednesday, hitting GBX 1,758.50 ($23.13). The company’s stock had a trading volume of 2,028,446 shares, compared to its average volume of 972,940. The company has a current ratio of 1.82, a quick ratio of 0.91 and a debt-to-equity ratio of 6.16. The stock has a fifty day moving average of GBX 2,371.47 and a two-hundred day moving average of GBX 2,415.90. The firm has a market capitalization of $13.92 billion and a P/E ratio of 15.83. Associated British Foods has a one year low of GBX 2,044 ($26.89) and a one year high of GBX 2,730 ($35.91).

In other news, insider Graham Allan bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average price of GBX 2,271 ($29.87) per share, for a total transaction 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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Analyst Recommendations for Associated British Foods (LON:ABF)

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