Tate & Lyle PLC Downgraded to “Hold” at Jefferies Group (TATE)
Tate & Lyle PLC (LON:TATE) was downgraded by analysts at Jefferies Group to a “hold” rating in a research report issued to clients and investors on Thursday. They currently have a GBX 715 ($11.99) price objective on the stock, down from their previous price objective of GBX 730 ($12.24). Jefferies Group’s price objective points to a potential upside of 3.70% from the stock’s previous close.
Shares of Tate & Lyle PLC (LON:TATE) traded down 0.87% during mid-day trading on Thursday, hitting GBX 683.50. The stock had a trading volume of 1,072,387 shares. Tate & Lyle PLC has a 52-week low of GBX 618.50 and a 52-week high of GBX 889.5001. The stock’s 50-day moving average is GBX 685.0 and its 200-day moving average is GBX 717.5. The company’s market cap is £3.172 billion.
The company also recently announced a dividend, which is scheduled for Friday, August 1st. Shareholders of record on Wednesday, June 25th will be paid a dividend of GBX 19.80 ($0.33) per share. This represents a dividend yield of 2.82%. The ex-dividend date is Wednesday, June 25th.
Several other analysts have also recently commented on the stock. Analysts at Societe Generale reiterated a “buy” rating on shares of Tate & Lyle PLC in a research note on Wednesday. They now have a GBX 760 ($12.74) price target on the stock. Separately, analysts at Berenberg Bank reiterated a “buy” rating on shares of Tate & Lyle PLC in a research note on Tuesday. They now have a GBX 775 ($12.99) price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Tate & Lyle PLC in a research note on Tuesday. They now have a GBX 825 ($13.83) price target on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Tate & Lyle PLC presently has an average rating of “Hold” and a consensus target price of GBX 750.50 ($12.58).
Tate & Lyle PLC is a global provider of ingredients and solutions to the food, beverage and other industries.
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