Shares of Associated British Foods plc (LON:ABF) have earned an average rating of “Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is GBX 2,933.18 ($38.33).
A number of research analysts recently issued reports on ABF shares. Royal Bank of Canada reduced their price target on Associated British Foods from GBX 3,100 ($40.51) to GBX 2,700 ($35.28) and set an “outperform” rating on the stock in a report on Tuesday, October 16th. UBS Group reiterated a “buy” rating on shares of Associated British Foods in a report on Wednesday, October 31st. Credit Suisse Group reiterated an “outperform” rating on shares of Associated British Foods in a report on Thursday, August 23rd. Goldman Sachs Group reduced their target price on Associated British Foods from GBX 2,840 ($37.11) to GBX 2,500 ($32.67) and set a “neutral” rating on the stock in a report on Tuesday, September 11th. Finally, Barclays reiterated an “overweight” rating on shares of Associated British Foods in a report on Friday, August 31st.
LON:ABF traded down GBX 38 ($0.50) during mid-day trading on Monday, reaching GBX 2,356 ($30.79). 290,257 shares of the company’s stock traded hands, compared to its average volume of 972,940. Associated British Foods has a 12-month low of GBX 2,476 ($32.35) and a 12-month high of GBX 3,387 ($44.26).
In other news, insider John Bason bought 18,438 shares of Associated British Foods stock in a transaction on Monday, November 26th. The shares were purchased at an average price of GBX 2,495 ($32.60) per share, for a total transaction of £460,028.10 ($601,108.19).
About Associated British Foods
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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