Tate & Lyle plc (LON:TATE – Get Rating)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 759.55 ($9.18) and traded as low as GBX 689.40 ($8.33). Tate & Lyle shares last traded at GBX 691.20 ($8.35), with a volume of 663,779 shares.
Analyst Upgrades and Downgrades
Several research firms have weighed in on TATE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 850 ($10.27) price target on shares of Tate & Lyle in a research report on Monday, June 20th. Jefferies Financial Group lowered Tate & Lyle to a “hold” rating and lowered their price target for the stock from GBX 880 ($10.63) to GBX 780 ($9.42) in a research report on Monday, September 12th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 935 ($11.30) price target on shares of Tate & Lyle in a research report on Friday, June 10th. Finally, Citigroup raised Tate & Lyle to a “buy” rating in a research report on Thursday, September 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 876.25 ($10.59).
Tate & Lyle Price Performance
The company has a current ratio of 3.06, a quick ratio of 0.48 and a debt-to-equity ratio of 41.91. The company has a 50 day moving average price of GBX 770.45 and a 200 day moving average price of GBX 759.55. The company has a market capitalization of £2.78 billion and a P/E ratio of 11,520.00.
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.
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