Tate & Lyle (LON:TATE) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tate & Lyle plc (LON:TATE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 419.30 and traded as high as GBX 559. Tate & Lyle shares last traded at GBX 557.50, with a volume of 633,773 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TATE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 595 price target on shares of Tate & Lyle in a research note on Friday, June 26th. Berenberg Bank boosted their price target on Tate & Lyle from GBX 464 to GBX 554 and gave the company a “hold” rating in a research note on Wednesday, May 27th. Finally, UBS Group restated a “neutral” rating and issued a GBX 375 price objective on shares of Tate & Lyle in a report on Monday, May 18th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 516.

Tate & Lyle Price Performance

The company has a debt-to-equity ratio of 80.98, a current ratio of 2.71 and a quick ratio of 1.77. The stock has a market capitalization of £2.47 billion, a P/E ratio of 25.72, a PEG ratio of 1.37 and a beta of 0.34. The stock’s fifty day moving average is GBX 519.39 and its 200-day moving average is GBX 420.55.

Tate & Lyle (LON:TATE) last posted its earnings results on Thursday, May 21st. The company reported GBX 22 earnings per share for the quarter. The company had revenue of GBX 200.60 billion for the quarter. Tate & Lyle had a return on equity of 6.17% and a net margin of 4.84%. On average, equities analysts anticipate that Tate & Lyle plc will post 51.3392857 earnings per share for the current year.

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.