Tate & Lyle (LON:TATE) Shares Pass Below 200 Day Moving Average – Here’s Why

Shares of Tate & Lyle plc (LON:TATE) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 433.23 and traded as low as GBX 372. Tate & Lyle shares last traded at GBX 378.40, with a volume of 146,169,984 shares.

Analyst Ratings Changes

Several brokerages have weighed in on TATE. Berenberg Bank reissued a “hold” rating and set a GBX 450 price objective on shares of Tate & Lyle in a report on Friday, November 7th. Citigroup cut their price target on Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a research note on Thursday, October 2nd. UBS Group decreased their price objective on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped 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 issued a Hold rating to the stock. According to MarketBeat, Tate & Lyle currently has an average rating of “Moderate Buy” and a consensus target price of GBX 460.

Tate & Lyle Stock Performance

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 market capitalization of £1.67 billion, a PE ratio of 67.61, a PEG ratio of 1.37 and a beta of 0.50. The company has a 50-day moving average price of GBX 371.49 and a two-hundred day moving average price of GBX 433.23.

Tate & Lyle (LON:TATE) last issued 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%. Analysts predict that Tate & Lyle plc will post 51.3392857 EPS for the current fiscal year.

Insider Activity at Tate & Lyle

In other news, insider Sarah Kuijlaars acquired 15,000 shares of Tate & Lyle stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average price of GBX 390 per share, with a total value of £58,500. Company 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. 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.