ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) Upgraded to Buy by 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 report issued on Friday, Zacks.com reports. The firm presently has a $35.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.46% 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 upgraded ASSD BRIT FOODS/ADR from a “neutral” rating to a “buy” rating in a report on Wednesday.

ASBFY traded up $0.01 during midday trading on Friday, reaching $31.40. 10,690 shares of the company were exchanged, compared to its average volume of 46,122. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 1.73. ASSD BRIT FOODS/ADR has a one year low of $25.49 and a one year high of $34.86. The stock has a market capitalization of $24.32 billion, a P/E ratio of 18.47, a PEG ratio of 1.77 and a beta of 0.95. The stock’s 50-day simple moving average is $28.37 and its 200 day simple moving average is $30.13.

ASSD BRIT FOODS/ADR Company Profile

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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