Associated British Foods plc (LON:ABF) shares shot up 0% during trading on Friday . The stock traded as high as GBX 2,833 ($38.13) and last traded at GBX 2,819 ($37.94). 405,198 shares traded hands during trading, a decline of 56% from the average session volume of 912,519 shares. The stock had previously closed at GBX 2,819 ($37.94).
Several brokerages recently commented on ABF. restated a “buy” rating and set a GBX 3,700 ($49.80) target price on shares of Associated British Foods in a report on Wednesday, September 6th. Credit Suisse Group restated an “outperform” rating and set a GBX 3,600 ($48.45) target price on shares of Associated British Foods in a report on Monday, September 11th. Liberum Capital increased their target price on shares of Associated British Foods from GBX 3,150 ($42.40) to GBX 3,500 ($47.11) and gave the stock a “buy” rating in a report on Monday, November 27th. J P Morgan Chase & Co restated an “overweight” rating and set a GBX 3,600 ($48.45) target price on shares of Associated British Foods in a report on Wednesday, November 8th. Finally, Deutsche Bank increased their target price on shares of Associated British Foods from GBX 3,300 ($44.41) to GBX 3,500 ($47.11) and gave the stock a “buy” rating in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 3,395.90 ($45.71).
Associated British Foods (LON:ABF) last issued its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.71) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 125.90 ($1.69) by GBX 1.20 ($0.02). The company had revenue of GBX 1,535.70 billion for the quarter. Associated British Foods had a net margin of 7.01% and a return on equity of 12.97%.
In related news, insider John Bason sold 21,716 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($40.96), for a total value of £660,817.88 ($889,391.49).
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About Associated British Foods
Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.
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