Tate & Lyle (LON:TATE) Earns Hold Rating from Berenberg Bank

Tate & Lyle (LON:TATE)‘s stock had its “hold” rating reaffirmed by equities researchers at Berenberg Bank in a report issued on Friday, Marketbeat Ratings reports. They currently have a GBX 450 price objective on the stock. Berenberg Bank’s price target suggests a potential upside of 15.86% from the company’s previous close.

Several other research analysts have also recently weighed in on TATE. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Citigroup dropped their price target on Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a report on Thursday, October 2nd. Finally, UBS Group decreased 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 460.

Tate & Lyle Stock Performance

Tate & Lyle stock traded up GBX 3.40 during mid-day trading on Friday, hitting GBX 388.40. 2,510,556 shares of the company’s stock traded hands, compared to its average volume of 2,964,257. 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 50 day simple moving average of GBX 430.75 and a two-hundred day simple moving average of GBX 504.90. Tate & Lyle has a fifty-two week low of GBX 358 and a fifty-two week high of GBX 775.50. The stock has a market cap of £1.72 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.37 and a beta of 0.50.

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

Insider Buying and Selling

In related news, insider Steve Foots acquired 16,000 shares of the stock in a transaction on Monday, October 6th. The shares were purchased at an average price of GBX 370 per share, for a total transaction of £59,200. Also, insider Nick Hampton acquired 25,000 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was bought at an average cost of GBX 369 per share, with a total value of £92,250. 1.66% of the stock is currently owned by insiders.

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.