Liberum Capital Reiterates “Buy” Rating for Tate & Lyle PLC (TATE)
Tate & Lyle PLC (LON:TATE)‘s stock had its “buy” rating restated by equities research analysts at Liberum Capital in a report issued on Monday. They currently have a GBX 795 ($9.93) price target on the stock. Liberum Capital’s target price points to a potential upside of 18.57% from the company’s previous close.
A number of other equities analysts have also recently weighed in on TATE. Jefferies Group decreased their price objective on shares of Tate & Lyle PLC from GBX 880 ($10.99) to GBX 870 ($10.87) and set a “buy” rating for the company in a research report on Tuesday, November 8th. Numis Securities Ltd upped their price objective on shares of Tate & Lyle PLC from GBX 758 ($9.47) to GBX 812 ($10.14) and gave the company a “hold” rating in a research report on Wednesday, November 9th. Davy Research reissued a “neutral” rating on shares of Tate & Lyle PLC in a research report on Thursday, November 3rd. BNP Paribas reissued a “neutral” rating and issued a GBX 700 ($8.75) price objective on shares of Tate & Lyle PLC in a research report on Thursday, September 8th. Finally, Berenberg Bank set a GBX 810 ($10.12) price objective on shares of Tate & Lyle PLC and gave the company a “neutral” rating in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. 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 674.00 on Monday. Tate & Lyle PLC has a 12-month low of GBX 529.00 and a 12-month high of GBX 850.00. The stock’s market cap is GBX 3.13 billion. The company’s 50 day moving average price is GBX 758.66 and its 200-day moving average price is GBX 697.72.
The business also recently disclosed a dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, November 24th will be issued a GBX 8.20 ($0.10) dividend. This represents a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 24th.
In other news, insider Hampton,Nick sold 45,600 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of GBX 739 ($9.23), for a total value of £336,984 ($421,019.49). Also, insider Javed Ahmed acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was bought at an average price of GBX 660 ($8.25) per share, with a total value of £198,000 ($247,376.31).
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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