Berenberg Bank Forecasts Strong Price Appreciation for Tate & Lyle (LON:TATE) Stock

Tate & Lyle (LON:TATE - Get Free Report) had its price target upped by Berenberg Bank from GBX 600 ($8.15) to GBX 620 ($8.42) in a research report issued on Wednesday, Marketbeat reports. The brokerage currently has a "hold" rating on the stock. Berenberg Bank's target price indicates a potential upside of 17.20% from the company's previous close.

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 800 ($10.87) price objective on shares of Tate & Lyle in a research note on Thursday, July 3rd.

Tate & Lyle Trading Up 2.5%

Shares of TATE stock traded up GBX 13 ($0.18) on Wednesday, hitting GBX 529 ($7.19). 664,328 shares of the company's stock traded hands, compared to its average volume of 3,460,179. The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22. Tate & Lyle has a one year low of GBX 460.40 ($6.25) and a one year high of GBX 848.50 ($11.53). The company's fifty day simple moving average is GBX 551.73 and its 200 day simple moving average is GBX 569.38. The stock has a market capitalization of £2.30 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 1.37 and a beta of 0.50.

Tate & Lyle (LON:TATE - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported GBX 50.30 ($0.68) EPS for the quarter. Tate & Lyle had a net margin of 11.41% and a return on equity of 15.37%. Equities analysts forecast that Tate & Lyle will post 51.3392857 EPS for the current year.

Insider Buying and Selling

In related news, insider Nick Hampton purchased 3,321 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of GBX 542 ($7.36) per share, for a total transaction of £17,999.82 ($24,452.95). Also, insider Sarah Kuijlaars purchased 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was bought at an average price of GBX 562 ($7.63) per share, for a total transaction of £84,300 ($114,522.48). 2.22% of the stock is owned by corporate 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.