Tate & Lyle (LON:TATE) Sets New 1-Year Low - Here's What Happened

Key Points

• Tate & Lyle plc shares hit a 52-week low during trading, reaching GBX 442.20 ($5.95), while the last traded price was GBX 449.64 ($6.05).
• Despite recent declines, Deutsche Bank maintained a "buy" rating with a price target of GBX 800, while Berenberg Bank raised its target to GBX 620 with a "hold" rating.
• Insider transactions revealed that Sarah Kuijlaars purchased 15,000 shares at £77,700, indicating confidence in the company's future.

Shares of Tate & Lyle plc (LON:TATE - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 442.20 ($5.95) and last traded at GBX 449.64 ($6.05), with a volume of 2352093 shares. The stock had previously closed at GBX 446.40 ($6.00).

Analyst Upgrades and Downgrades

TATE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 800 price objective on shares of Tate & Lyle in a report on Thursday, July 3rd. Berenberg Bank lifted their price objective on Tate & Lyle from GBX 600 to GBX 620 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of GBX 676.67.

Tate & Lyle Trading Down 9.9%

The firm has a market capitalization of £1.79 billion, a price-to-earnings ratio of 1,174.49, a PEG ratio of 1.37 and a beta of 0.50. The company has a fifty day moving average price of GBX 519.48 and a two-hundred day moving average price of GBX 532.16. The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.66.

Insider Buying and Selling at Tate & Lyle

In related news, insider Sarah Kuijlaars bought 15,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were acquired at an average cost of GBX 518 per share, for a total transaction of £77,700. 1.65% of the stock is currently owned by corporate insiders.

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.

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