Tate & Lyle (LON:TATE) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Tate & Lyle's shares fell below their 200-day moving average of GBX 549.43, closing at GBX 536.50 with significant trading volume.
• Berenberg Bank raised its target price for Tate & Lyle from GBX 600 to GBX 620, while Deutsche Bank maintains a "buy" rating with a target of GBX 800.
• Insiders purchased a total of 33,321 shares in recent months, indicating confidence in the company's future performance.

Shares of Tate & Lyle plc (LON:TATE - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 549.43 ($7.45) and traded as low as GBX 531 ($7.20). Tate & Lyle shares last traded at GBX 536.50 ($7.27), with a volume of 803,066 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on TATE. Berenberg Bank lifted their price target on shares of Tate & Lyle from GBX 600 ($8.13) to GBX 620 ($8.40) and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 800 ($10.84) target price on shares of Tate & Lyle in a research note on Thursday, July 3rd.

Tate & Lyle Trading Down 1.0%

The stock has a 50-day simple moving average of GBX 533.52 and a two-hundred day simple moving average of GBX 546.98. The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22. The firm has a market cap of £2.30 billion, a PE ratio of 11.00, a price-to-earnings-growth 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) earnings per share for the quarter. Tate & Lyle had a return on equity of 15.37% and a net margin of 11.41%. As a group, sell-side analysts anticipate that Tate & Lyle plc will post 51.3392857 EPS for the current year.

Insider Transactions at Tate & Lyle

In other Tate & Lyle news, insider Sarah Kuijlaars bought 15,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was acquired at an average price of GBX 518 ($7.02) per share, with a total value of £77,700 ($105,313.09). Also, insider Nick Hampton purchased 3,321 shares of Tate & Lyle stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of GBX 542 ($7.35) per share, with a total value of £17,999.82 ($24,396.61). In the last three months, insiders acquired 33,321 shares of company stock valued at $17,999,982. 2.22% of the stock is owned by 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.