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

Tate & Lyle plc (LON:TATE – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 460.25 and traded as high as GBX 555. Tate & Lyle shares last traded at GBX 554.50, with a volume of 1,163,980 shares.

Analyst Ratings Changes

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

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Tate & Lyle Stock 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’s 50 day moving average is GBX 555.65 and its 200-day moving average is GBX 461.39. The stock has a market capitalization of £2.45 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.37 and a beta of 0.35.

Tate & Lyle Company Profile

(Get Free Report)

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.

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