Tate & Lyle (LON:TATE) Sets New 1-Year Low – What’s Next?

Tate & Lyle plc (LON:TATE)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as GBX 531 ($6.84) and last traded at GBX 532 ($6.86), with a volume of 402476 shares trading hands. The stock had previously closed at GBX 535.50 ($6.90).

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tate & Lyle from GBX 850 ($10.96) to GBX 950 ($12.25) and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup dropped their price objective on Tate & Lyle from GBX 725 ($9.35) to GBX 610 ($7.86) and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Berenberg Bank lowered Tate & Lyle to a “hold” rating and cut their price objective for the stock from GBX 900 ($11.60) to GBX 600 ($7.73) in a research report on Tuesday, February 18th.

Tate & Lyle Stock Performance

The company’s 50-day moving average price is GBX 620.14 and its 200 day moving average price is GBX 678.58. The stock has a market capitalization of £2.27 billion, a PE ratio of 10.88, a PEG ratio of 1.37 and a beta of 0.50. The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22.

Insider Buying and Selling

In other news, insider Sarah Kuijlaars purchased 20,000 shares of Tate & Lyle stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of GBX 564 ($7.27) per share, with a total value of £112,800 ($145,398.30). 2.22% 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.