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

Tate & Lyle plc (LON:TATE)’s share price passed 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TATE. UBS Group cut their price objective on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a report on Friday, October 31st. Berenberg Bank reaffirmed a “hold” rating and set a GBX 450 target price on shares of Tate & Lyle in a report on Friday, November 7th. Citigroup decreased their price target on Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, 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 report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tate & Lyle presently has a consensus rating of “Moderate Buy” and an average target price of GBX 460.

Tate & Lyle Trading Up 0.5%

The company has a debt-to-equity ratio of 47.66, a current ratio of 3.22 and a quick ratio of 1.77. The firm has a market cap 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 firm’s fifty day moving average is GBX 378.08 and its 200-day moving average is GBX 461.

Tate & Lyle (LON:TATE) last posted its quarterly earnings data 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%. Equities analysts anticipate that Tate & Lyle plc will post 51.3392857 earnings per share for the current year.

Insiders Place Their Bets

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

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.