Tate & Lyle (LON:TATE) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Tate & Lyle plc (LON:TATE)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 516.59 ($6.91) and traded as low as GBX 374.40 ($5.01). Tate & Lyle shares last traded at GBX 378.85 ($5.07), with a volume of 1,081,223 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TATE. Berenberg Bank lowered their price objective on Tate & Lyle from GBX 620 to GBX 450 and set a “hold” rating for the company in a research report on Monday, October 13th. Citigroup lowered their price target on Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 483.33.

Tate & Lyle Price Performance

The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22. The stock has a 50 day simple moving average of GBX 470.76 and a two-hundred day simple moving average of GBX 516.59. The firm has a market cap of £1.68 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

Insider Activity

In other Tate & Lyle news, insider Nick Hampton purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was purchased at an average price of GBX 369 per share, for a total transaction of £92,250. Also, insider Steve Foots purchased 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was acquired at an average price of GBX 370 per share, with a total value of £59,200. 1.65% 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.