BNP Paribas Downgrades Tate & Lyle PLC (TATE) to Underperform
Tate & Lyle PLC (LON:TATE) was downgraded by investment analysts at BNP Paribas to an “underperform” rating in a research note issued on Wednesday. They presently have a GBX 570 ($7.06) target price on the stock. BNP Paribas’ price target indicates a potential downside of 16.67% from the stock’s previous close.
A number of other analysts have also recently commented on the stock. Numis Securities Ltd boosted their target price on shares of Tate & Lyle PLC from GBX 758 ($9.39) to GBX 812 ($10.06) and gave the company a “hold” rating in a report on Wednesday. Goldman Sachs Group Inc. set a GBX 750 ($9.29) price target on shares of Tate & Lyle PLC and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Group dropped their price target on shares of Tate & Lyle PLC from GBX 880 ($10.90) to GBX 870 ($10.78) and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank AG upped their price target on shares of Tate & Lyle PLC from GBX 850 ($10.53) to GBX 875 ($10.84) and gave the stock a “buy” rating in a research note on Monday. Finally, Societe Generale set a GBX 875 ($10.84) price target on shares of Tate & Lyle PLC and gave the stock a “neutral” rating in a research note on Friday, November 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 791 ($9.80).
Tate & Lyle PLC (LON:TATE) opened at 686.00 on Wednesday. Tate & Lyle PLC has a 12 month low of GBX 529.00 and a 12 month high of GBX 850.00. The company’s market cap is GBX 3.19 billion. The firm’s 50-day moving average is GBX 762.97 and its 200-day moving average is GBX 695.43.
The firm also recently declared a dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, November 24th will be given a dividend of GBX 8.20 ($0.10) per share. This represents a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 24th.
In related news, insider Hampton,Nick sold 45,600 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of GBX 739 ($9.15), for a total transaction of £336,984 ($417,421.03). Also, insider Javed Ahmed acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were bought at an average price of GBX 660 ($8.18) per share, with a total value of £198,000 ($245,261.98).
Tate & Lyle PLC Company Profile
Tate & Lyle PLC provides ingredients and solutions to the food, beverage and other industries. The Company operates through two business segments: Speciality Food Ingredients, which offers products, such as sweeteners, texturants, health and wellness, and food systems, and Bulk Ingredients segment, which offers products, such as liquid sweeteners, industrial starches, citric acid, bio-fuels and animal feed.
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