Associated British Foods (OTCMKTS:ASBFY) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Associated British Foods (OTCMKTS:ASBFY) from a buy rating to a sell rating in a research report released on Tuesday, December 19th.

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. “

ASBFY has been the subject of several other reports. Goldman Sachs Group lowered Associated British Foods from a buy rating to a neutral rating in a research report on Tuesday, November 7th. Morgan Stanley lowered Associated British Foods from an overweight rating to an equal weight rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $43.00.

Associated British Foods (OTCMKTS ASBFY) traded down $0.10 during mid-day trading on Tuesday, hitting $38.31. The stock had a trading volume of 7,646 shares, compared to its average volume of 63,831. Associated British Foods has a 1 year low of $30.01 and a 1 year high of $45.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.65 and a quick ratio of 0.98.

The company also recently announced a None dividend, which will be paid on Monday, January 29th. Investors of record on Friday, December 15th will be given a $0.352 dividend. The ex-dividend date of this dividend is Thursday, December 14th.

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Associated British Foods Company Profile

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

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