Associated British Foods (OTCMKTS:ASBFY) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Shares of Associated British Foods plc (OTCMKTS:ASBFY) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $24.08 and traded as low as $23.62. Associated British Foods shares last traded at $24.18, with a volume of 16,710 shares.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Associated British Foods from a “neutral” rating to a “sell” rating in a research report on Thursday, January 16th.

Associated British Foods Trading Up 1.3 %

The company’s 50 day moving average price is $24.08 and its 200 day moving average price is $27.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.98 and a current ratio of 1.78.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, 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.