Tate & Lyle (LON:TATE) Sets New 12-Month Low – Time to Sell?

Tate & Lyle plc (LON:TATE) reached a new 52-week low during trading on Wednesday . The company traded as low as GBX 355 and last traded at GBX 356.20, with a volume of 1716867 shares traded. The stock had previously closed at GBX 359.40.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a research note on Thursday, October 2nd. UBS Group cut their target price on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Berenberg Bank reissued a “hold” rating and set a GBX 450 price target on shares of Tate & Lyle in a research report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 460.

Tate & Lyle Trading Up 1.0%

The company has a market cap of £1.67 billion, a P/E ratio of 67.39, a P/E/G ratio of 1.37 and a beta of 0.50. The business has a fifty day simple moving average of GBX 371.86 and a 200 day simple moving average of GBX 438.05. The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22.

Tate & Lyle (LON:TATE) last issued its quarterly 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%. Analysts anticipate that Tate & Lyle plc will post 51.3392857 earnings per share for the current fiscal year.

Insider Activity at Tate & Lyle

In related news, insider Sarah Kuijlaars bought 15,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of GBX 390 per share, for a total transaction of £58,500. Company 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.