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

Tate & Lyle plc (LON:TATE) shares reached a new 52-week low on Monday . The company traded as low as GBX 358 and last traded at GBX 358, with a volume of 3638497 shares trading hands. The stock had previously closed at GBX 370.80.

Analysts Set New Price Targets

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

Tate & Lyle Price Performance

The company has a market cap of £1.58 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.66. The company has a fifty day moving average price of GBX 401.40 and a two-hundred day moving average price of GBX 491.09.

Tate & Lyle (LON:TATE) last issued its earnings results 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%. As a group, equities research analysts anticipate that Tate & Lyle plc will post 51.3392857 EPS for the current fiscal year.

Insider Buying and Selling

In other Tate & Lyle news, insider Nick Hampton acquired 25,000 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were acquired at an average price of GBX 369 per share, with a total value of £92,250. Also, insider Sarah Kuijlaars bought 15,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average price of GBX 390 per share, for a total transaction of £58,500. Insiders have bought 56,000 shares of company stock valued at $20,995,000 in the last 90 days. 1.66% of the stock is 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.