Tate & Lyle (LON:TATE) Stock Passes Below 200-Day Moving Average – Time to Sell?

Tate & Lyle plc (LON:TATE) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 554.51 ($7.37) and traded as low as GBX 526 ($6.99). Tate & Lyle shares last traded at GBX 534 ($7.10), with a volume of 1,396,864 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TATE shares. Berenberg Bank boosted their price objective on Tate & Lyle from GBX 600 ($7.97) to GBX 620 ($8.24) and gave the company a “hold” rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 800 ($10.63) price target on shares of Tate & Lyle in a report on Thursday, July 3rd.

Tate & Lyle Stock Performance

The business’s 50-day simple moving average is GBX 536.31 and its two-hundred day simple moving average is GBX 554.51. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66. The firm has a market cap of £2.35 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.37 and a beta of 0.50.

Tate & Lyle (LON:TATE) last released its quarterly earnings results on Thursday, May 22nd. The company reported GBX 50.30 ($0.67) earnings per share for the quarter. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%. As a group, sell-side analysts expect 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 company’s stock in a transaction dated Tuesday, July 15th. The shares were acquired at an average price of GBX 518 ($6.88) per share, for a total transaction of £77,700 ($103,269.54). Also, insider Nick Hampton bought 3,321 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of GBX 542 ($7.20) per share, with a total value of £17,999.82 ($23,923.21). Over the last ninety days, insiders have bought 33,321 shares of company stock valued at $17,999,982. Corporate insiders own 2.22% 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.