Tate & Lyle (LON:TATE) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Tate & Lyle plc (LON:TATE)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 419.30 and traded as high as GBX 559. Tate & Lyle shares last traded at GBX 557.50, with a volume of 633,773 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TATE shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 595 target price on shares of Tate & Lyle in a research report on Friday, June 26th. UBS Group reiterated a “neutral” rating and issued a GBX 375 price target on shares of Tate & Lyle in a research note on Monday, May 18th. Finally, Berenberg Bank increased their price objective on shares of Tate & Lyle from GBX 464 to GBX 554 and gave the company a “hold” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tate & Lyle has an average rating of “Hold” and an average price target of GBX 516.

Tate & Lyle Price Performance

The company has a debt-to-equity ratio of 80.98, a quick ratio of 1.77 and a current ratio of 2.71. The firm has a fifty day simple moving average of GBX 515.49 and a two-hundred day simple moving average of GBX 419.30. The firm has a market cap of £2.47 billion, a PE ratio of 25.69, a PEG ratio of 1.37 and a beta of 0.34.

Tate & Lyle (LON:TATE) last issued its quarterly earnings data on Thursday, May 21st. The company reported GBX 22 earnings per share (EPS) for the quarter. The business 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%. Equities analysts predict 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.