Tate & Lyle (LON:TATE) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Tate & Lyle plc (LON:TATE) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 467.54 and traded as low as GBX 372.80. Tate & Lyle shares last traded at GBX 377, with a volume of 1,399,057 shares traded.

Wall Street Analyst Weigh In

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

Tate & Lyle Stock Down 0.2%

The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.66. The stock has a market cap of £1.66 billion, a P/E ratio of 67.18, a PEG ratio of 1.37 and a beta of 0.50. The firm has a 50-day simple moving average of GBX 378.07 and a two-hundred day simple moving average of GBX 467.54.

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

Insiders Place Their Bets

In other Tate & Lyle news, insider Sarah Kuijlaars bought 15,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were bought at an average cost of GBX 390 per share, with a total value of £58,500. Also, insider Nick Hampton purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was bought at an average price of GBX 369 per share, with a total value of £92,250. Insiders have acquired a total of 56,000 shares of company stock worth $20,995,000 in the last quarter. Corporate insiders own 1.66% of the company’s stock.

Tate & Lyle Company Profile

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.