Tate & Lyle (LON:TATE) Trading 52.6% Higher – Here’s What Happened

Tate & Lyle plc (LON:TATE)’s share price shot up 52.6% during trading on Thursday . The company traded as high as GBX 580 and last traded at GBX 572. 25,863,629 shares traded hands during trading, an increase of 51% from the average session volume of 17,132,434 shares. The stock had previously closed at GBX 374.80.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 460 target price on shares of Tate & Lyle in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 460.

Tate & Lyle Price Performance

The company has a current ratio of 2.19, a quick ratio of 1.77 and a debt-to-equity ratio of 83.31. The business’s fifty day moving average is GBX 353.24 and its 200 day moving average is GBX 370.27. The company has a market cap of £2.51 billion, a P/E ratio of 101.43, a PEG ratio of 1.37 and a beta of 0.28.

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.