Tate & Lyle (LON:TATE) Reaches New 12-Month Low – Here’s Why

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TATE. Berenberg Bank restated a “hold” rating and issued a GBX 450 price objective on shares of Tate & Lyle in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a report on Thursday, October 2nd. UBS Group dropped their price objective on shares of Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a report on Friday, October 31st. Finally, Citigroup reduced their target price on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a research note on Thursday, October 2nd. 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, Tate & Lyle has an average rating of “Moderate Buy” and an average price target of GBX 460.

Tate & Lyle Trading Down 0.1%

The stock has a market cap of £1.59 billion, a P/E ratio of 64.11, a PEG ratio of 1.37 and a beta of 0.50. The business’s 50 day simple moving average is GBX 372.82 and its 200 day simple moving average is GBX 439.02. The company has a debt-to-equity ratio of 47.66, a current ratio of 3.22 and a quick ratio of 1.77.

Tate & Lyle (LON:TATE) last posted its earnings results on Thursday, November 6th. The company reported GBX 12.60 EPS for the quarter. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%. On average, analysts expect that Tate & Lyle plc will post 51.3392857 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sarah Kuijlaars bought 15,000 shares of Tate & Lyle stock in a transaction dated Tuesday, November 11th. The shares were bought at an average price of GBX 390 per share, for a total transaction of £58,500. Insiders own 1.66% of the company’s stock.

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.