Tate & Lyle (LON:TATE) Trading 52.6% Higher – Still a Buy?

Tate & Lyle plc (LON:TATE)’s share price rose 52.6% during mid-day trading on Thursday . The company traded as high as GBX 580 and last traded at GBX 572. Approximately 25,863,629 shares changed hands during mid-day trading, an increase of 51% from the average daily volume of 17,132,434 shares. The stock had previously closed at GBX 374.80.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 460 price objective on shares of Tate & Lyle in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 460.

Tate & Lyle Price Performance

The firm has a market cap of £2.51 billion, a P/E ratio of 101.43, a PEG ratio of 1.37 and a beta of 0.28. The business’s fifty day simple moving average is GBX 353.24 and its 200-day simple moving average is GBX 370.27. The company has a current ratio of 2.19, a quick ratio of 1.77 and a debt-to-equity ratio of 83.31.

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.