ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) Raised to Buy at Zacks Investment Research

ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $37.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.59% 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. “

Separately, Goldman Sachs Group raised ASSD BRIT FOODS/ADR from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 6th.

Shares of ASBFY traded down $0.47 during trading hours on Tuesday, reaching $32.29. 8,104 shares of the company traded hands, compared to its average volume of 43,682. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.82. The stock’s fifty day moving average is $30.49 and its 200 day moving average is $30.00. ASSD BRIT FOODS/ADR has a 1-year low of $25.49 and a 1-year high of $34.30. The stock has a market cap of $26.29 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96.

About ASSD BRIT FOODS/ADR

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.

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