Tate & Lyle (LON:TATE) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Tate & Lyle plc (LON:TATE)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 467.54 and traded as low as GBX 372.80. Tate & Lyle shares last traded at GBX 377, with a volume of 1,399,057 shares.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup decreased their target price on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Berenberg Bank restated a “hold” rating and set a GBX 450 target price on shares of Tate & Lyle in a research note on Friday, November 7th. Finally, UBS Group reduced their target price on Tate & Lyle from GBX 590 to GBX 390 and set a “neutral” rating on the stock in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Tate & Lyle has an average rating of “Moderate Buy” and a consensus price target of GBX 460.

Tate & Lyle Stock Performance

The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22. The firm has a market cap of £1.66 billion, a P/E ratio of 67.18, a P/E/G ratio of 1.37 and a beta of 0.50. The company’s 50 day moving average is GBX 378.07 and its 200 day moving average is GBX 467.54.

Tate & Lyle (LON:TATE) last posted its earnings results on Thursday, November 6th. The company reported GBX 12.60 earnings per share for the quarter. Tate & Lyle had a net margin of 11.41% and a return on equity of 15.37%. As a group, equities analysts predict that Tate & Lyle plc will post 51.3392857 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nick Hampton bought 25,000 shares of the stock in a transaction on Friday, October 3rd. The stock was acquired at an average price of GBX 369 per share, with a total value of £92,250. Also, insider Sarah Kuijlaars purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average cost of GBX 390 per share, for a total transaction of £58,500. Insiders bought a total of 56,000 shares of company stock valued at $20,995,000 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Tate & Lyle Company Profile

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.