Tate & Lyle (LON:TATE) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Tate & Lyle plc (LON:TATE) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 443.46 and traded as high as GBX 555. Tate & Lyle shares last traded at GBX 553, with a volume of 2,149,734 shares changing hands.

Analysts Set New Price Targets

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

Tate & Lyle Stock Down 0.2%

The company has a market cap of £2.45 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.37 and a beta of 0.34. 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 company’s 50-day moving average is GBX 551.79 and its two-hundred day moving average is GBX 443.46.

Tate & Lyle (LON:TATE) last released its quarterly earnings data on Thursday, May 21st. The company reported GBX 22 earnings per share (EPS) for the quarter. Tate & Lyle had a return on equity of 6.17% and a net margin of 4.84%.The business had revenue of GBX 200.60 billion for the quarter. As a group, equities analysts predict that Tate & Lyle plc will post 51.3392857 earnings per share for the current fiscal year.

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. 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.