Associated British Foods (LON:ABF) had its target price decreased by research analysts at Royal Bank of Canada from GBX 3,000 ($39.20) to GBX 2,900 ($37.89) in a report released on Thursday, Digital Look reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 14.90% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on ABF. Barclays restated an “overweight” rating on shares of Associated British Foods in a research report on Wednesday. Liberum Capital restated a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 11th. Shore Capital restated a “buy” rating on shares of Associated British Foods in a research report on Wednesday, April 24th. Jefferies Financial Group lowered their price objective on shares of Associated British Foods from GBX 3,200 ($41.81) to GBX 2,800 ($36.59) and set a “buy” rating for the company in a research report on Tuesday, April 9th. Finally, Credit Suisse Group raised their price objective on shares of Associated British Foods from GBX 2,630 ($34.37) to GBX 2,750 ($35.93) and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 2,896.69 ($37.85).
Shares of Associated British Foods stock opened at GBX 2,524 ($32.98) on Thursday. The stock has a market cap of $19.88 billion and a P/E ratio of 21.80. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 8.60. Associated British Foods has a 12-month low of GBX 2,011 ($26.28) and a 12-month high of GBX 2,846 ($37.19).
Associated British Foods (LON:ABF) last posted its quarterly earnings data on Wednesday, April 24th. The company reported GBX 61.10 ($0.80) earnings per share for the quarter, missing the consensus estimate of GBX 62 ($0.81) by GBX (0.90) (($0.01)). As a group, equities research analysts forecast that Associated British Foods will post 14973.2234999 EPS for the current fiscal year.
Associated British Foods Company Profile
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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