Tate & Lyle (OTCMKTS:TATYY) Stock Price Down 0.8% – Here’s Why

Tate & Lyle PLC (OTCMKTS:TATYY) traded down 0.8% on Monday . The stock traded as low as $29.90 and last traded at $29.90. Approximately 769 shares were traded during mid-day trading, an increase of 191% from the average session volume of 264 shares. The stock had previously closed at $30.15.

Analysts Set New Price Targets

A number of research firms have issued reports on TATYY. BNP Paribas Exane downgraded Tate & Lyle to a “neutral” rating in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft downgraded Tate & Lyle from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Tate & Lyle Stock Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.55 and a current ratio of 2.71. The stock’s fifty day simple moving average is $30.02 and its 200-day simple moving average is $25.98.

Tate & Lyle Company Profile

Tate & Lyle plc is a global food and beverage ingredient supplier headquartered in London, England. The company develops ingredients that help manufacturers improve the taste, texture, nutrition and functionality of products across categories such as beverages, bakery products, dairy and plant-based foods, desserts, soups and sauces.

Its portfolio includes sweeteners, fibers, starches, texturants, stabilizers and other specialty ingredients. Tate & Lyle also provides formulation expertise and technical support to help customers reduce sugar and calories, add fiber, improve texture and develop products that meet changing consumer preferences.

The company traces its origins to the 19th-century sugar businesses of Henry Tate and Abram Lyle and was formed through their 1921 merger.