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

Tate & Lyle plc (LON:TATE)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 461 and traded as low as GBX 377. Tate & Lyle shares last traded at GBX 379.80, with a volume of 382,762 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on TATE. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. 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 reduced 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. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 450 price target on shares of Tate & Lyle in a report on Friday, November 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tate & Lyle has an average rating of “Moderate Buy” and a consensus target price of GBX 460.

Tate & Lyle Trading Up 0.5%

The firm has a market capitalization of £1.68 billion, a price-to-earnings ratio of 67.82, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. The business’s fifty day moving average is GBX 378.03 and its 200 day moving average is GBX 459.81. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66.

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 net margin of 11.41% and a return on equity of 15.37%. Equities analysts predict that Tate & Lyle plc will post 51.3392857 earnings per share for the current year.

Insider Buying and Selling

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