Royal Bank of Canada Reiterates Outperform Rating for Associated British Foods (LON:ABF)

Associated British Foods (LON:ABF)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report issued on Tuesday,Digital Look reports. They presently have a GBX 2,300 ($28.62) target price on the stock. Royal Bank of Canada’s target price points to a potential upside of 19.82% from the company’s current price.

Separately, Shore Capital reissued a “buy” rating on shares of Associated British Foods in a report on Thursday, January 23rd.

Associated British Foods Stock Up 2.7 %

Shares of ABF traded up GBX 50 ($0.62) during mid-day trading on Tuesday, hitting GBX 1,919.50 ($23.88). 777,176 shares of the company’s stock were exchanged, compared to its average volume of 6,074,003. Associated British Foods has a 52 week low of GBX 1,862 ($23.17) and a 52 week high of GBX 2,770.66 ($34.47). The company has a 50-day simple moving average of GBX 2,082.79 and a 200 day simple moving average of GBX 2,275.74. The company has a market cap of £14.12 billion, a PE ratio of 1,238.39, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 33.71, a current ratio of 1.79 and a quick ratio of 0.93.

Associated British Foods (LON:ABF) last posted its quarterly earnings results on Tuesday, November 5th. The company reported GBX 196.90 ($2.45) earnings per share for the quarter. Associated British Foods had a return on equity of 10.69% and a net margin of 5.92%. On average, research analysts forecast that Associated British Foods will post 188.0990415 earnings per share for the current fiscal year.

Insider Transactions at Associated British Foods

In other news, insider Loraine Woodhouse acquired 4,164 shares of the stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of GBX 2,389 ($29.73) per share, with a total value of £99,477.96 ($123,774.99). Also, insider George G. Weston sold 56,653 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of GBX 2,161 ($26.89), for a total transaction of £1,224,271.33 ($1,523,293.93). 58.08% of the stock is currently owned by insiders.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money.