Tate & Lyle (LON:TATE) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Shares of Tate & Lyle plc (LON:TATE) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 414.87 and traded as low as GBX 393.60. Tate & Lyle shares last traded at GBX 397.21, with a volume of 994,436 shares trading hands.

Wall Street Analysts Forecast Growth

TATE has been the topic of a number of recent analyst reports. Berenberg Bank reiterated a “hold” rating and issued a GBX 450 price objective on shares of Tate & Lyle in a research note on Friday, November 7th. UBS Group lowered their target price on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Tate & Lyle has an average rating of “Moderate Buy” and a consensus price target of GBX 460.

Tate & Lyle Stock Performance

The firm has a fifty day simple moving average of GBX 380.33 and a 200 day simple moving average of GBX 414.87. 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 £1.77 billion, a price-to-earnings ratio of 71.43, a PEG ratio of 1.37 and a beta of 0.50.

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.