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

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 Tuesday, Zacks.com reports. The brokerage currently has $37.00 price target 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. “

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

Shares of OTCMKTS ASBFY opened at $33.20 on Tuesday. ASSD BRIT FOODS/ADR has a 1 year low of $25.49 and a 1 year high of $34.30. The firm has a market cap of $25.56 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.06 and a beta of 0.96. 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 50-day simple moving average is $30.78 and its 200-day simple moving average is $29.99.

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 13th will be given a $0.398 dividend. This is a positive change from ASSD BRIT FOODS/ADR’s previous Semi-Annual dividend of $0.39. The ex-dividend date of this dividend is Thursday, December 12th. ASSD BRIT FOODS/ADR’s dividend 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.

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