Credit Suisse Group Boosts Associated British Foods (LON:ABF) Price Target to GBX 2,800

Associated British Foods (LON:ABF) had its price objective increased by Credit Suisse Group from GBX 2,650 ($34.86) to GBX 2,800 ($36.83) in a report released on Monday morning, Digital Look reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Associated British Foods from GBX 2,700 ($35.52) to GBX 2,800 ($36.83) and gave the company an outperform rating in a report on Monday, November 25th. Berenberg Bank lowered their target price on shares of Associated British Foods from GBX 2,800 ($36.83) to GBX 2,700 ($35.52) and set a buy rating for the company in a research note on Monday, October 21st. Shore Capital reaffirmed a buy rating on shares of Associated British Foods in a research note on Thursday, December 12th. Goldman Sachs Group raised shares of Associated British Foods to a buy rating and increased their target price for the stock from GBX 2,500 ($32.89) to GBX 2,750 ($36.17) in a research note on Thursday, November 7th. Finally, Liberum Capital reaffirmed a buy rating and set a GBX 3,070 ($40.38) target price on shares of Associated British Foods in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of GBX 2,860.18 ($37.62).

LON:ABF opened at GBX 2,645 ($34.79) on Monday. The company has a debt-to-equity ratio of 6.16, a quick ratio of 0.91 and a current ratio of 1.82. The company has a fifty day moving average of GBX 2,581.16 and a two-hundred day moving average of GBX 2,392.93. The stock has a market capitalization of $20.23 billion and a PE ratio of 23.81. Associated British Foods has a fifty-two week low of GBX 2,078.81 ($27.35) and a fifty-two week high of GBX 2,659 ($34.98).

The firm also recently declared a dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 12th were given a dividend of GBX 34.30 ($0.45) per share. This represents a dividend yield of 1.44%. The ex-dividend date was Thursday, December 12th. This is a boost from Associated British Foods’s previous dividend of $12.05. Associated British Foods’s dividend payout ratio is currently 0.41%.

In other Associated British Foods news, insider John Bason sold 20,827 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of GBX 2,536 ($33.36), for a total value of £528,172.72 ($694,781.27).

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

Recommended Story: Bid-Ask Spread

Analyst Recommendations for Associated British Foods (LON:ABF)

Receive News & Ratings for Associated British Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated British Foods and related companies with MarketBeat.com's FREE daily email newsletter.