Associated British Foods (LON:ABF) Stock Price Down 8.5%

Posted by Steven Smith on Sep 7th, 2024

Associated British Foods plc (LON:ABF – Get Free Report)’s stock price fell 8.5% during trading on Thursday . The stock traded as low as GBX 2,287 ($30.07) and last traded at GBX 2,289 ($30.10). 1,565,374 shares were traded during mid-day trading, an increase of 58% from the average session volume of 988,656 shares. The stock had previously closed at GBX 2,501 ($32.89).

Analysts Set New Price Targets

A number of analysts have issued reports on ABF shares. Deutsche Bank Aktiengesellschaft downgraded Associated British Foods to a “sell” rating and decreased their price target for the stock from GBX 2,290 ($30.11) to GBX 2,190 ($28.80) in a report on Tuesday, August 27th. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research report on Tuesday.

Check Out Our Latest Stock Report on Associated British Foods

Associated British Foods Price Performance

The company has a 50-day moving average of GBX 2,466.74 and a 200-day moving average of GBX 2,486.15. The company has a debt-to-equity ratio of 33.71, a quick ratio of 0.93 and a current ratio of 1.79. The stock has a market cap of £16.30 billion, a price-to-earnings ratio of 1,421.94, a PEG ratio of 0.87 and a beta of 1.24.

Insider Buying and Selling at Associated British Foods

In related news, insider Dame Heather Rabbatts purchased 395 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average price of GBX 2,512 ($33.03) per share, for a total transaction of £9,922.40 ($13,047.21). Company insiders own 57.88% of the company’s stock.

Associated British Foods Company Profile

(Get Free Report)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, 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.