Tate & Lyle PLC (TATE) Price Target Lowered to GBX 710 at JPMorgan Chase & Co.
Tate & Lyle PLC (LON:TATE) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from GBX 770 ($9.62) to GBX 710 ($8.87) in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 6.37% from the stock’s current price.
Several other research analysts also recently weighed in on the company. BNP Paribas reiterated a “neutral” rating and issued a GBX 760 ($9.50) price target on shares of Tate & Lyle PLC in a report on Monday, November 7th. Goldman Sachs Group Inc. set a GBX 715 ($8.93) price target on Tate & Lyle PLC and gave the company a “neutral” rating in a report on Tuesday, October 11th. Liberum Capital reiterated a “buy” rating and issued a GBX 795 ($9.93) price target on shares of Tate & Lyle PLC in a report on Monday, October 10th. Jefferies Group boosted their price target on Tate & Lyle PLC from GBX 825 ($10.31) to GBX 880 ($10.99) and gave the company a “buy” rating in a report on Monday, October 31st. Finally, Societe Generale upgraded Tate & Lyle PLC to a “buy” rating and boosted their price target for the company from GBX 780 ($9.75) to GBX 830 ($10.37) in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of GBX 786 ($9.82).
Tate & Lyle PLC (LON:TATE) opened at 667.50 on Tuesday. The stock’s market capitalization is GBX 3.10 billion. Tate & Lyle PLC has a 12-month low of GBX 529.00 and a 12-month high of GBX 850.00. The company has a 50-day moving average price of GBX 761.11 and a 200-day moving average price of GBX 697.20.
The company also recently disclosed a dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, November 24th will be given a GBX 8.20 ($0.10) dividend. The ex-dividend date is Thursday, November 24th. This represents a yield of 1.02%.
In other news, insider Javed Ahmed acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was bought at an average cost of GBX 660 ($8.25) per share, with a total value of £198,000 ($247,376.31). Also, insider Hampton,Nick sold 45,600 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of GBX 739 ($9.23), for a total transaction of £336,984 ($421,019.49).
About Tate & Lyle PLC
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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