Tate & Lyle (LON:TATE) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Tate & Lyle plc (LON:TATE) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 444.38 and traded as low as GBX 363.10. Tate & Lyle shares last traded at GBX 370.80, with a volume of 1,436,627 shares traded.

Analysts Set New Price Targets

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

Tate & Lyle Price Performance

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 50-day moving average price of GBX 374.24 and a 200 day moving average price of GBX 444.38. The stock has a market capitalization of £1.65 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 1.37 and a beta of 0.50.

Tate & Lyle (LON:TATE) last announced its earnings results on Thursday, November 6th. The company reported GBX 12.60 earnings per share 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 expect that Tate & Lyle plc will post 51.3392857 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Sarah Kuijlaars acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average cost of GBX 390 per share, with a total value of £58,500. Corporate insiders own 1.66% of the company’s stock.

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. The company offers dairy products, soups, sauces, and dressings; bakery products and snacks; texturants; nutritive sweeteners, such as high fructose corn syrup and dextrose; fibres; and stabilizers and functional systems.