Tate & Lyle (LON:TATE) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Tate & Lyle plc (LON:TATE) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 402.36 and traded as high as GBX 555.50. Tate & Lyle shares last traded at GBX 554.50, with a volume of 131,354,750 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TATE shares. Berenberg Bank lifted their target price on Tate & Lyle from GBX 464 to GBX 554 and gave the company a “hold” rating in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 595 price target on shares of Tate & Lyle in a research note on Friday. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 375 price objective on shares of Tate & Lyle in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 516.

Tate & Lyle Price Performance

The company has a quick ratio of 1.77, a current ratio of 2.71 and a debt-to-equity ratio of 80.98. The stock has a market capitalization of £2.45 billion, a PE ratio of 25.53, a PEG ratio of 1.37 and a beta of 0.35. The firm’s fifty day moving average is GBX 471.14 and its 200-day moving average is GBX 404.69.

Tate & Lyle (LON:TATE) last released its earnings results on Thursday, May 21st. The company reported GBX 22 earnings per share (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, equities research analysts predict 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.