Tate & Lyle PLC (TATE) Receives Consensus Rating of “Hold” from Brokerages
Tate & Lyle PLC (LON:TATE) has received an average recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is GBX 778.23 ($10.10).
A number of brokerages recently issued reports on TATE. Numis Securities Ltd upgraded Tate & Lyle PLC to an “add” rating and boosted their price target for the company from GBX 849 ($11.02) to GBX 882 ($11.45) in a report on Monday, June 5th. Jefferies Group LLC downgraded Tate & Lyle PLC to a “hold” rating and reduced their price target for the company from GBX 870 ($11.29) to GBX 800 ($10.39) in a report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a GBX 750 ($9.74) price target on shares of Tate & Lyle PLC in a report on Monday, May 15th. Shore Capital restated a “hold” rating on shares of Tate & Lyle PLC in a report on Thursday, June 15th. Finally, Kepler Capital Markets restated a “reduce” rating and set a GBX 690 ($8.96) price target on shares of Tate & Lyle PLC in a report on Tuesday, June 13th.
In other Tate & Lyle PLC news, insider Javed Ahmed sold 85,813 shares of Tate & Lyle PLC stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of GBX 727 ($9.44), for a total transaction of £623,860.51 ($809,892.91).
Shares of Tate & Lyle PLC (LON:TATE) traded up 0.36% during midday trading on Tuesday, hitting GBX 689.00. The company had a trading volume of 817,802 shares. Tate & Lyle PLC has a 52 week low of GBX 653.50 and a 52 week high of GBX 850.00. The company’s market capitalization is GBX 3.19 billion. The firm’s 50 day moving average is GBX 677.23 and its 200 day moving average is GBX 730.10.
The company also recently disclosed a dividend, which was paid on Tuesday, August 1st. Shareholders of record on Thursday, June 29th were given a dividend of GBX 19.80 ($0.26) per share. This represents a yield of 2.64%. This is a boost from Tate & Lyle PLC’s previous dividend of $8.20. The ex-dividend date of this dividend was Thursday, June 29th.
Tate & Lyle PLC Company Profile
Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The Company’s segments include Speciality Food Ingredients and Bulk Ingredients. The Speciality Food Ingredients segment’s product categories include dairy, beverage, bakery and convenience. The Bulk Ingredients segment’s product lines include bulk sweeteners for food and beverage customers, and industrial starches for paper and construction industries.
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