Tate & Lyle (LON:TATE) Receives “Hold” Rating from Berenberg Bank

Berenberg Bank reiterated their hold rating on shares of Tate & Lyle (LON:TATE) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a GBX 450 price objective on the stock.

TATE has been the topic of several other reports. Citigroup lowered their target price on shares of Tate & Lyle from GBX 670 to GBX 540 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. UBS Group lowered 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. Finally, 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 report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tate & Lyle presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 460.

Tate & Lyle Stock Performance

Tate & Lyle stock traded up GBX 3.40 during mid-day trading on Friday, reaching GBX 388.40. 2,510,556 shares of the company were exchanged, compared to its average volume of 2,964,257. The firm’s 50-day simple moving average is GBX 430.75 and its two-hundred day simple moving average is GBX 504.90. Tate & Lyle has a twelve month low of GBX 358 and a twelve month high of GBX 775.50. 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 £1.72 billion, a PE ratio of 11.26, a price-to-earnings-growth 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 net margin of 11.41% and a return on equity of 15.37%. Equities analysts predict that Tate & Lyle will post 51.3392857 earnings per share for the current fiscal year.

Insider Transactions at Tate & Lyle

In other Tate & Lyle news, insider Steve Foots bought 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average price of GBX 370 per share, with a total value of £59,200. Also, insider Nick Hampton acquired 25,000 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was acquired at an average cost of GBX 369 per share, with a total value of £92,250. Company insiders own 1.66% of the company’s stock.

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.