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Tate & Lyle (LON:TATE) Given New GBX 450 Price Target at Berenberg Bank

Tate & Lyle logo with Consumer Defensive background

Key Points

  • Berenberg Bank has lowered its price target for Tate & Lyle from GBX 620 to GBX 450, while maintaining a "hold" rating.
  • Other analysts, including Citigroup and Deutsche Bank, have also reduced their price targets for Tate & Lyle, with prices now ranging from GBX 460 to GBX 540.
  • Insiders, including Steve Foots and Nick Hampton, have purchased shares recently, indicating potential confidence in the company's future despite the price adjustments.
  • MarketBeat previews top five stocks to own in November.

Tate & Lyle (LON:TATE - Get Free Report) had its price target lowered by research analysts at Berenberg Bank from GBX 620 to GBX 450 in a research report issued on Monday,London Stock Exchange reports. The firm currently has a "hold" rating on the stock. Berenberg Bank's price target points to a potential upside of 15.86% from the company's previous close.

A number of other research analysts have also recently commented on TATE. Citigroup decreased their price target on Tate & Lyle from GBX 670 to GBX 540 and set a "buy" rating on the stock in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Tate & Lyle from GBX 800 to GBX 460 and set a "buy" rating on the stock in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 483.33.

Get Our Latest Analysis on Tate & Lyle

Tate & Lyle Trading Up 0.3%

TATE opened at GBX 388.40 on Monday. Tate & Lyle has a one year low of GBX 358 and a one year high of GBX 848.50. The stock has a market capitalization of £1.72 billion, a PE ratio of 1,125.79, a P/E/G ratio of 1.37 and a beta of 0.50. The business's 50 day moving average price is GBX 489.94 and its 200 day moving average price is GBX 522.31. The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22.

Insiders Place Their Bets

In related news, insider Steve Foots purchased 16,000 shares of the business's stock in a transaction on Monday, October 6th. The shares were bought at an average price of GBX 370 per share, for a total transaction of £59,200. Also, insider Nick Hampton purchased 25,000 shares of the business's stock in a transaction on Friday, October 3rd. The shares were bought at an average price of GBX 369 per share, for a total transaction of £92,250. Company insiders own 1.65% of the company's stock.

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.

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