Tate & Lyle (LON:TATE) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Tate & Lyle plc (LON:TATE) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 474.60 and traded as low as GBX 360.80. Tate & Lyle shares last traded at GBX 363.80, with a volume of 104,075,906 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on TATE. Citigroup lowered their target price on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating on the stock in a report on Thursday, October 2nd. UBS Group lowered their price objective on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating for the company in a research note on Friday, October 31st. Berenberg Bank reaffirmed a “hold” rating and set a GBX 450 target price on shares of Tate & Lyle in a research report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 460.

Tate & Lyle Stock Performance

The firm has a market cap of £1.61 billion, a PE ratio of 64.93, a PEG ratio of 1.37 and a beta of 0.50. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66. The company has a 50-day simple moving average of GBX 378.21 and a two-hundred day simple moving average of GBX 474.60.

Tate & Lyle (LON:TATE) last released its earnings results on Thursday, November 6th. The company reported GBX 12.60 EPS for the quarter. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%. As a group, equities research analysts forecast that Tate & Lyle plc will post 51.3392857 earnings per share for the current year.

Insider Buying and Selling at Tate & Lyle

In related news, insider Steve Foots bought 16,000 shares of the company’s stock in a transaction on Monday, October 6th. The shares were purchased at an average cost of GBX 370 per share, for a total transaction of £59,200. Also, insider Nick Hampton purchased 25,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were bought at an average price of GBX 369 per share, with a total value of £92,250. Insiders have purchased a total of 56,000 shares of company stock worth $20,995,000 over the last three months. 1.66% of the stock is currently owned by insiders.

About Tate & Lyle

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.