Tate & Lyle (LON:TATE) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Tate & Lyle plc (LON:TATE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 443.46 and traded as high as GBX 555. Tate & Lyle shares last traded at GBX 553, with a volume of 2,149,734 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on TATE. UBS Group reissued a “neutral” rating and set a GBX 375 price objective on shares of Tate & Lyle in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 595 target price on shares of Tate & Lyle in a research report on Friday, June 26th. Finally, Berenberg Bank boosted their price target on Tate & Lyle from GBX 464 to GBX 554 and gave the stock a “hold” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 516.

Tate & Lyle Price Performance

The stock has a market cap of £2.45 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 1.37 and a beta of 0.34. The business has a 50-day simple moving average of GBX 551.79 and a 200 day simple moving average of GBX 443.46. The company has a current ratio of 2.71, a quick ratio of 1.77 and a debt-to-equity ratio of 80.98.

Tate & Lyle (LON:TATE) last posted its quarterly earnings data on Thursday, May 21st. The company reported GBX 22 EPS for the quarter. The company had revenue of GBX 200.60 billion for the quarter. Tate & Lyle had a return on equity of 6.17% and a net margin of 4.84%. On average, analysts forecast 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.