Published: Sun, January 15, 2017
Economy | By Melissa Porter

Associated British Foods plc's (ABF) Buy Rating Reaffirmed at Deutsche Bank AG

Over the last twelve months Associated British Foods's stock price has decreased by -14.48% from 3008.63 to 2573.

Deutsche Bank AG reaffirmed their buy rating on shares of Associated British Foods plc (LON:ABF) in a research note published on Monday. Shore Capital reiterated a hold rating on shares of Associated British Foods plc in a research report on Thursday. The average stock price target is 3,055.76GBX with 2 brokers rating the stock a strong buy, 6 brokers rating the stock a buy, 12 brokers rating the stock a hold, 2 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell. Numis Securities Ltd lowered Associated British Foods plc to an add rating and set a GBX 3,128 ($38.04) target price for the a research report on Thursday.

There are now 790,160,000 shares in issue with a current share value of 2573 giving Associated British Foods a market capitalisation of 20.33B GBp.

ABF said a tightening of European Union stock levels had strengthened domestic prices across Europe while in Africa higher world prices and the strength of the United States dollar had resulted in higher domestic and regional prices. The company's stock had a trading volume of 2,440,798 shares. The stock's 50 day moving average price is GBX 2,646.59 and its 200-day moving average price is GBX 2,710.11. The stock has a market capitalization of $25183.15 billion and a P/E ratio of 24.77. Associated British Foods plc has a 12-month low of GBX 1,910.00 and a 12-month high of GBX 3,465.00. If you are reading this report on another domain, it was illegally stolen and republished in violation of worldwide trademark & copyright legislation.

The firm also recently announced a dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be issued a GBX 26.45 ($0.32) dividend. The ex-dividend date is Thursday, December 15th. The shares were bought at an average price of GBX 2,595 ($31.56) per share, with a total value of £84,078 ($102,247.35).

Margins and sales improved in its grocery arm - which includes hot drinks brands Twinings and Ovaltine, while its agriculture and ingredients business also achieved "good revenue growth" in the period.

Primark owner Associated British Foods issued a trading update for the 16 weeks to 7 January on Thursday, reporting group revenue from continuing operations 10% ahead of the same period previous year at constant currency, with good growth delivered by all business divisions.

Like this: