Associated British Foods (LON:ABF) Rating Reiterated by Shore Capital

Shore Capital reissued their buy rating on shares of Associated British Foods (LON:ABFGet Rating) in a research report report published on Monday, MarketBeat.com reports.

A number of other brokerages have also weighed in on ABF. Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a GBX 2,300 ($28.17) price target on shares of Associated British Foods in a report on Tuesday, March 1st. Morgan Stanley reissued an equal weight rating on shares of Associated British Foods in a report on Wednesday, May 11th. Barclays lowered their price target on shares of Associated British Foods from GBX 2,700 ($33.07) to GBX 2,500 ($30.62) and set an overweight rating for the company in a report on Wednesday, April 6th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a GBX 1,850 ($22.66) price target on shares of Associated British Foods in a report on Monday, May 30th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Associated British Foods has an average rating of Moderate Buy and an average target price of GBX 2,170 ($26.58).

Shares of Associated British Foods stock opened at GBX 1,611.50 ($19.74) on Monday. The company has a debt-to-equity ratio of 37.25, a current ratio of 1.99 and a quick ratio of 1.15. The firm has a market cap of £12.76 billion and a P/E ratio of 16.07. The firm has a 50 day simple moving average of GBX 1,634.04 and a 200 day simple moving average of GBX 1,793.75. Associated British Foods has a fifty-two week low of GBX 1,462.50 ($17.91) and a fifty-two week high of GBX 2,364 ($28.96).

The firm also recently announced a dividend, which will be paid on Friday, July 8th. Shareholders of record on Thursday, June 9th will be issued a dividend of GBX 13.80 ($0.17) per share. This represents a yield of 0.85%. The ex-dividend date is Thursday, June 9th. Associated British Foods’s dividend payout ratio is presently 0.27%.

In other Associated British Foods news, insider Graham Allan bought 2,200 shares of the stock in a transaction on Tuesday, April 26th. The stock was purchased at an average price of GBX 1,560 ($19.11) per share, with a total value of £34,320 ($42,038.22).

About Associated British Foods (Get Rating)

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.

Further Reading

Analyst Recommendations for Associated British Foods (LON:ABF)

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