Zacks Investment Research downgraded shares of ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) from a hold rating to a sell rating in a report published on Wednesday morning.
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. “
Separately, Societe Generale initiated coverage on ASSD BRIT FOODS/ADR in a report on Tuesday, December 11th. They set a hold rating for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. ASSD BRIT FOODS/ADR currently has a consensus rating of Hold and an average price target of $34.00.
Shares of OTCMKTS:ASBFY opened at $29.73 on Wednesday. ASSD BRIT FOODS/ADR has a 1-year low of $25.50 and a 1-year high of $39.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 1.63.
About ASSD BRIT FOODS/ADR
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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