Tate & Lyle (LON:TATE) Reaches New 52-Week Low – Here’s Why

Shares of Tate & Lyle plc (LON:TATE) reached a new 52-week low during trading on Wednesday . The stock traded as low as GBX 356.40 and last traded at GBX 358.40, with a volume of 2189311 shares changing hands. The stock had previously closed at GBX 362.40.

Analyst Ratings Changes

A number of research firms recently issued reports on TATE. 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 research note on Friday, October 31st. Citigroup reduced 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 lowered their price target on shares of Tate & Lyle from GBX 800 to GBX 460 and set a “buy” rating for the company in a report on Thursday, October 2nd. Finally, Berenberg Bank reissued a “hold” rating and set a GBX 450 price objective on shares of Tate & Lyle in a research note on Friday, November 7th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Tate & Lyle presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 460.

Tate & Lyle Trading Up 1.6%

The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66. The business’s fifty day moving average is GBX 375.12 and its 200-day moving average is GBX 449.11. The stock has a market capitalization of £1.62 billion, a PE ratio of 65.36, a P/E/G ratio of 1.37 and a beta of 0.50.

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

Insider Activity

In related news, insider Sarah Kuijlaars acquired 15,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were bought at an average cost of GBX 390 per share, with a total value of £58,500. 1.66% of the stock is owned by insiders.

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. 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.