Assd Brit FOODS/ADR (ASBFY) Rating Increased to Hold at Zacks Investment Research

Assd Brit FOODS/ADR (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, September 12th.

According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “

A number of other analysts have also weighed in on the company. Goldman Sachs Group lowered Assd Brit FOODS/ADR from a “buy” rating to a “neutral” rating in a report on Wednesday, May 23rd. Royal Bank of Canada upgraded Assd Brit FOODS/ADR to an “outperform” rating in a report on Monday, June 18th. Finally, ValuEngine lowered Assd Brit FOODS/ADR from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $42.00.

Assd Brit FOODS/ADR stock traded up $0.41 during mid-day trading on Wednesday, reaching $30.20. 17,641 shares of the company were exchanged, compared to its average volume of 24,376. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 0.07. The firm has a market cap of $23.81 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.83 and a beta of 0.95. Assd Brit FOODS/ADR has a 12-month low of $29.00 and a 12-month high of $45.22.

Assd Brit FOODS/ADR 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, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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