Tate & Lyle (LON:TATE) Hits New 52-Week Low – Time to Sell?

Shares of Tate & Lyle plc (LON:TATE) reached a new 52-week low on Wednesday . The company traded as low as GBX 515 ($6.67) and last traded at GBX 515.18 ($6.67), with a volume of 201619 shares traded. The stock had previously closed at GBX 519.50 ($6.73).

Wall Street Analysts Forecast Growth

TATE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Tate & Lyle from GBX 850 ($11.00) to GBX 950 ($12.30) and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup cut their price target on Tate & Lyle from GBX 725 ($9.39) to GBX 610 ($7.90) and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Berenberg Bank cut Tate & Lyle to a “hold” rating and lowered their price objective for the company from GBX 900 ($11.65) to GBX 600 ($7.77) in a research report on Tuesday, February 18th.

Tate & Lyle Price Performance

The firm has a 50 day moving average price of GBX 609.57 and a 200 day moving average price of GBX 674.86. The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.66. The stock has a market capitalization of £2.24 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

Insider Activity

In other Tate & Lyle news, insider Sarah Kuijlaars bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of GBX 564 ($7.30) per share, with a total value of £112,800 ($146,038.32). Insiders own 2.22% 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.