Tate & Lyle (OTCMKTS:TATYY) Trading Down 0.8% – Should You Sell?

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

Analysts Set New Price Targets

A number of brokerages recently commented on TATYY. BNP Paribas Exane downgraded shares of Tate & Lyle to a “neutral” rating in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft cut 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 and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Tate & Lyle Stock Performance

The company has a quick ratio of 1.55, a current ratio of 2.71 and a debt-to-equity ratio of 0.80. The company’s 50 day simple moving average is $30.02 and its 200 day simple moving average is $25.91.

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.