Tate & Lyle (LON:TATE) Share Price 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) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 ($7.28), with a volume of 803,066 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TATE. Berenberg Bank raised their price target on Tate & Lyle from GBX 600 ($8.14) to GBX 620 ($8.41) and gave the company a "hold" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 800 ($10.85) price target on shares of Tate & Lyle in a research note on Thursday, July 3rd.

Tate & Lyle Stock Up 0.3%

The company has a debt-to-equity ratio of 47.66, a current ratio of 3.22 and a quick ratio of 1.77. The company has a market capitalization of £2.30 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.37 and a beta of 0.50. The stock has a 50-day moving average price of GBX 533.52 and a 200-day moving average price of GBX 546.18.

Tate & Lyle (LON:TATE - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts predict that Tate & Lyle plc will post 51.3392857 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Nick Hampton acquired 3,321 shares of Tate & Lyle stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of GBX 542 ($7.35) per share, with a total value of £17,999.82 ($24,409.85). Also, insider Sarah Kuijlaars purchased 15,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were purchased at an average cost of GBX 518 ($7.02) per share, for a total transaction of £77,700 ($105,370.22). Over the last quarter, insiders acquired 33,321 shares of company stock valued at $17,999,982. 2.22% 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.