ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. They currently have $37.00 price objective on the stock.

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. “

Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of ASSD BRIT FOODS/ADR from a hold rating to a sell rating in a research note on Tuesday. Goldman Sachs Group raised shares of ASSD BRIT FOODS/ADR from a neutral rating to a buy rating in a research note on Wednesday, November 6th.

Shares of ASSD BRIT FOODS/ADR stock traded down $0.24 on Thursday, hitting $32.05. The company’s stock had a trading volume of 12,836 shares, compared to its average volume of 10,326. ASSD BRIT FOODS/ADR has a 52-week low of $25.49 and a 52-week high of $34.30. The company has a quick ratio of 1.05, a current ratio of 1.82 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $31.35 and a 200-day moving average price of $30.00. The company has a market capitalization of $25.37 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.03 and a beta of 0.97.

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 13th will be paid a $0.398 dividend. This is an increase from ASSD BRIT FOODS/ADR’s previous Semi-Annual dividend of $0.39. The ex-dividend date is Thursday, December 12th. ASSD BRIT FOODS/ADR’s payout ratio is presently 15.29%.

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.

Featured Article: How Do Mutual Funds Work?

Get a free copy of the Zacks research report on ASSD BRIT FOODS/ADR (ASBFY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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