Tate & Lyle (LON:TATE) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Tate & Lyle plc (LON:TATE) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 428.27 and traded as high as GBX 560.50. Tate & Lyle shares last traded at GBX 559, with a volume of 800,884 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on TATE shares. UBS Group reissued a “neutral” rating and set a GBX 375 price target on shares of Tate & Lyle in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 595 price objective on shares of Tate & Lyle in a report on Friday, June 26th. Finally, Berenberg Bank increased their price objective on shares of Tate & Lyle from GBX 464 to GBX 554 and gave the stock a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of GBX 516.

Tate & Lyle Price Performance

The stock has a 50 day simple moving average of GBX 542.46 and a two-hundred day simple moving average of GBX 429.62. The firm has a market cap of £2.47 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.34. The company has a debt-to-equity ratio of 80.98, a quick ratio of 1.77 and a current ratio of 2.71.

Tate & Lyle (LON:TATE) last issued its quarterly earnings data on Thursday, May 21st. The company reported GBX 22 earnings per share (EPS) for the quarter. Tate & Lyle had a return on equity of 6.17% and a net margin of 4.84%.The business had revenue of GBX 200.60 billion during the quarter. Sell-side analysts expect that Tate & Lyle plc will post 51.3392857 earnings per share for the current year.

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. 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.