Citigroup Lowers Tate & Lyle (LON:TATE) Price Target to GBX 540

Tate & Lyle (LON:TATE) had its target price lowered by Citigroup from GBX 670 to GBX 540 in a report published on Thursday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 800 price objective on shares of Tate & Lyle in a research report on Thursday, July 3rd. Berenberg Bank raised their target price on shares of Tate & Lyle from GBX 600 to GBX 620 and gave the company a “hold” rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 540.

Tate & Lyle Trading Down 1.7%

Shares of Tate & Lyle stock opened at GBX 365 on Thursday. Tate & Lyle has a 12-month low of GBX 365 and a 12-month high of GBX 848.50. The company has a market cap of £1.61 billion, a price-to-earnings ratio of 1,057.97, a PEG ratio of 1.37 and a beta of 0.50. The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.66. The company’s 50-day moving average price is GBX 509.72 and its 200-day moving average price is GBX 528.77.

Insider Buying and Selling

In other Tate & Lyle news, insider Nick Hampton purchased 25,000 shares of Tate & Lyle stock in a transaction on Friday, October 3rd. The shares were acquired at an average cost of GBX 369 per share, for a total transaction of £92,250. Also, insider Sarah Kuijlaars purchased 15,000 shares of Tate & Lyle stock in a transaction on Tuesday, July 15th. The shares were acquired at an average price of GBX 518 per share, for a total transaction of £77,700. 1.65% of the stock is owned by company insiders.

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.