Tate & Lyle (LON:TATE) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Tate & Lyle plc (LON:TATE) 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 traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TATE. Berenberg Bank upped their price target on Tate & Lyle from GBX 464 to GBX 554 and gave the company a “hold” rating in a research note on Wednesday, May 27th. UBS Group reissued a “neutral” rating and set a GBX 375 price objective on shares of Tate & Lyle in a research report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft raised Tate & Lyle to a “buy” rating and raised their price objective for the stock from GBX 460 to GBX 595 in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of GBX 516.

Tate & Lyle Stock Performance

The firm’s fifty day moving average price is GBX 462.89 and its 200 day moving average price is GBX 402.36. The company has a current ratio of 2.71, a quick ratio of 1.77 and a debt-to-equity ratio of 80.98. The stock has a market capitalization of £2.45 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.35.

Tate & Lyle (LON:TATE) last posted its quarterly earnings data on Thursday, May 21st. The company reported GBX 22 earnings per share for the quarter. Tate & Lyle had a net margin of 4.84% and a return on equity of 6.17%. The firm had revenue of GBX 200.60 billion during the quarter. Analysts forecast that Tate & Lyle plc will post 51.3392857 EPS for the current fiscal 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.