Tate & Lyle (LON:TATE) Sets New 52-Week Low – What’s Next?

Tate & Lyle plc (LON:TATE)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as GBX 356.40 and last traded at GBX 358.40, with a volume of 2189311 shares changing hands. The stock had previously closed at GBX 362.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TATE. UBS Group lowered their price target on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Berenberg Bank reaffirmed a “hold” rating and set a GBX 450 target price on shares of Tate & Lyle in a report on Friday, November 7th. Finally, Citigroup reduced their target price on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 460.

Tate & Lyle Stock Performance

The stock has a 50-day moving average of GBX 376.09 and a 200 day moving average of GBX 450.33. The stock has a market cap of £1.59 billion, a PE ratio of 64.43, a P/E/G ratio of 1.37 and a beta of 0.50. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66.

Tate & Lyle (LON:TATE) last issued its earnings results on Thursday, November 6th. The company reported GBX 12.60 earnings per share (EPS) for the quarter. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%. Equities analysts predict that Tate & Lyle plc will post 51.3392857 EPS for the current fiscal year.

Insider Transactions at Tate & Lyle

In other news, insider Sarah Kuijlaars bought 15,000 shares of Tate & Lyle stock in a transaction on Tuesday, November 11th. The shares were bought at an average cost of GBX 390 per share, with a total value of £58,500. Insiders own 1.66% of the company’s stock.

Tate & Lyle Company Profile

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.