Shares of Associated British Foods plc (LON:ABF) traded up 1.6% during trading on Friday . The stock traded as high as GBX 2,677 ($36.99) and last traded at GBX 2,662 ($36.78). 603,460 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 1,070,000 shares. The stock had previously closed at GBX 2,620 ($36.20).
Several analysts have recently commented on the company. Liberum Capital increased their price objective on Associated British Foods from GBX 3,150 ($43.52) to GBX 3,500 ($48.36) and gave the stock a “buy” rating in a research note on Monday, November 27th. Barclays raised Associated British Foods to an “overweight” rating and increased their price objective for the stock from GBX 3,290 ($45.45) to GBX 3,380 ($46.70) in a research note on Tuesday, January 16th. Credit Suisse Group reissued an “outperform” rating and issued a GBX 3,700 ($51.12) price objective on shares of Associated British Foods in a research note on Thursday, December 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 3,600 ($49.74) price objective on shares of Associated British Foods in a research note on Wednesday, November 8th. Finally, Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of GBX 3,439.37 ($47.52).
The stock has a market capitalization of $21,070.00 and a PE ratio of 1,751.32.
In other Associated British Foods news, insider John Bason sold 21,716 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($42.04), for a total transaction of £660,817.88 ($912,984.08).
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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.
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