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

Associated British Foods (LON:ABF)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a report issued on Tuesday, MarketBeat reports. They presently have a GBX 2,300 ($28.64) price target on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 20.89% 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 Price Performance

Shares of LON ABF opened at GBX 1,902.50 ($23.69) on Tuesday. The firm has a market cap of £14.00 billion, a P/E ratio of 1,227.42, a PEG ratio of 1.51 and a beta of 1.24. The company has a 50 day moving average of GBX 2,077.46 and a 200 day moving average of GBX 2,271.80. Associated British Foods has a twelve month low of GBX 1,862 ($23.18) and a twelve month high of GBX 2,770.66 ($34.50). The company has a quick ratio of 0.93, a current ratio of 1.79 and a debt-to-equity ratio of 33.71.

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

Insiders Place Their Bets

In other Associated British Foods news, insider Loraine Woodhouse acquired 4,164 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were acquired at an average cost of GBX 2,389 ($29.74) per share, with a total value of £99,477.96 ($123,852.04). Also, insider George G. Weston sold 56,653 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of GBX 2,161 ($26.90), for a total transaction of £1,224,271.33 ($1,524,242.19). 58.08% of the stock is currently owned by corporate 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.