Tate & Lyle (LON:TATE) Stock Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• Tate & Lyle's stock price has recently dropped below its 200-day moving average of GBX 558.94, trading down to GBX 537.50.
• Analysts at Deutsche Bank have maintained a "buy" rating" with a price target of GBX 800, while Berenberg Bank raised its target from GBX 600 to GBX 620 with a "hold" rating.
• Insider purchases indicate confidence in the company, with insiders acquiring a total of 33,321 shares in recent transactions.

Tate & Lyle plc (LON:TATE - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 558.94 ($7.51) and traded as low as GBX 537.50 ($7.22). Tate & Lyle shares last traded at GBX 542 ($7.28), with a volume of 2,786,086 shares changing hands.

Analyst Ratings Changes

TATE has been the topic of a number of research reports. Berenberg Bank boosted their price objective on Tate & Lyle from GBX 600 ($8.06) to GBX 620 ($8.33) and gave the company a "hold" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 800 ($10.75) target price on shares of Tate & Lyle in a research report on Thursday, July 3rd.

Tate & Lyle Stock Down 0.2%

The company has a market capitalization of £2.36 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.37 and a beta of 0.50. The business has a fifty day simple moving average of GBX 540.94 and a two-hundred day simple moving average of GBX 558.94. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66.

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

Insider Activity

In related news, insider Nick Hampton bought 3,321 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of GBX 542 ($7.28) per share, with a total value of £17,999.82 ($24,190.06). Also, insider Sarah Kuijlaars bought 15,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were bought at an average price of GBX 518 ($6.96) per share, with a total value of £77,700 ($104,421.45). In the last quarter, insiders purchased 33,321 shares of company stock worth $17,999,982. 2.22% of the stock is owned by company 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.