Associated British Foods (ABF) Receives Consensus Recommendation of “Buy” from Brokerages

Associated British Foods (LON:ABF) has received a consensus rating of “Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nineteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is GBX 3,311.35 ($44.92).

ABF has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their price target on shares of Associated British Foods from GBX 2,900 ($39.34) to GBX 2,700 ($36.63) and set an “outperform” rating for the company in a research report on Monday, March 26th. Deutsche Bank restated a “buy” rating and set a GBX 3,500 ($47.48) price target on shares of Associated British Foods in a research report on Wednesday, February 14th. Shore Capital restated a “buy” rating on shares of Associated British Foods in a research report on Friday, January 19th. Barclays restated an “overweight” rating on shares of Associated British Foods in a research report on Tuesday, February 27th. Finally, Morgan Stanley upgraded shares of Associated British Foods to an “overweight” rating and set a GBX 3,000 ($40.69) price target for the company in a research report on Wednesday, March 28th.

In related news, insider Michael McLintock acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, April 18th. The stock was bought at an average cost of GBX 2,688 ($36.46) per share, with a total value of £201,600 ($273,467.17).

Associated British Foods stock traded up GBX 32 ($0.43) during mid-day trading on Thursday, reaching GBX 2,737 ($37.13). The company’s stock had a trading volume of 840,271 shares, compared to its average volume of 972,940. Associated British Foods has a 12-month low of GBX 2,476 ($33.59) and a 12-month high of GBX 3,387 ($45.94).

The business also recently disclosed a dividend, which will be paid on Friday, July 6th. Stockholders of record on Thursday, June 7th will be issued a dividend of GBX 11.70 ($0.16) per share. This represents a dividend yield of 0.43%. The ex-dividend date is Thursday, June 7th.

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, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

Analyst Recommendations for Associated British Foods (LON:ABF)

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