Associated British Foods (ABF) Receives “Outperform” Rating from Credit Suisse Group

Credit Suisse Group reissued their outperform rating on shares of Associated British Foods (LON:ABF) in a report released on Wednesday, January 10th. Credit Suisse Group currently has a GBX 3,700 ($51.96) price objective on the stock.

ABF has been the topic of a number of other reports. Liberum Capital raised their price objective on Associated British Foods from GBX 3,150 ($44.24) to GBX 3,500 ($49.15) and gave the stock a buy rating in a report on Monday, November 27th. reiterated a buy rating and set a GBX 3,700 ($51.96) target price on shares of Associated British Foods in a report on Tuesday, September 12th. JPMorgan Chase & Co. restated an overweight rating and set a GBX 3,600 ($50.55) price objective on shares of Associated British Foods in a research note on Wednesday, November 8th. Berenberg Bank raised their price objective on Associated British Foods from GBX 3,100 ($43.53) to GBX 3,200 ($44.94) and gave the company a hold rating in a research note on Monday, September 18th. Finally, Shore Capital restated a buy rating on shares of Associated British Foods in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of GBX 3,439.37 ($48.30).

Shares of Associated British Foods (ABF) opened at GBX 2,673 ($37.54) on Wednesday. Associated British Foods has a 52 week low of GBX 2,366.08 ($33.23) and a 52 week high of GBX 3,387 ($47.56). The stock has a market capitalization of $21,060.00 and a PE ratio of 1,758.55.

Associated British Foods (LON:ABF) last issued its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of GBX 125.90 ($1.77) by GBX 1.20 ($0.02). The firm had revenue of GBX 1,535.70 billion for the quarter. Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%.

The firm also recently announced a dividend, which was paid on Friday, January 12th. Shareholders of record on Thursday, December 14th were paid a dividend of GBX 29.65 ($0.42) per share. The ex-dividend date was Thursday, December 14th. This represents a yield of 0.97%. This is an increase from Associated British Foods’s previous dividend of $11.35.

In other news, insider John Bason sold 21,716 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($42.73), for a total value of £660,817.88 ($927,984.67).

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About Associated British Foods

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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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