Assd Brit FOODS/ADR (ASBFY) Upgraded by Zacks Investment Research to Buy

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Assd Brit FOODS/ADR (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $34.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.99% from the stock’s current price.

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. “

A number of other analysts also recently commented on the company. Berenberg Bank raised Assd Brit FOODS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. ValuEngine downgraded Assd Brit FOODS/ADR from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $34.00.

Assd Brit FOODS/ADR stock traded down $0.30 during mid-day trading on Tuesday, hitting $30.36. 36,638 shares of the company’s stock traded hands, compared to its average volume of 25,124. Assd Brit FOODS/ADR has a one year low of $29.00 and a one year high of $45.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.75 and a quick ratio of 0.89. The company has a market capitalization of $24.11 billion, a P/E ratio of 18.29, a PEG ratio of 1.81 and a beta of 0.95.

Assd Brit FOODS/ADR 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, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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