Tate & Lyle (LON:TATE) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Tate & Lyle shares moved above their 200-day moving average, trading as high as GBX 560.50 and last changing hands at GBX 559 on strong volume of 800,884 shares.
• Analysts remain cautious overall: Berenberg raised its target to GBX 554, Deutsche Bank set GBX 595, and UBS reiterated a GBX 375 target, leaving the stock with a consensus Hold rating and average target of GBX 516.
• The company reported recent quarterly earnings of GBX 22 per share and posted a 4.84% net margin, while analysts expect full-year earnings of about 51.34 EPS.

Tate & Lyle plc (LON:TATE - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 428.27 and traded as high as GBX 560.50. Tate & Lyle shares last traded at GBX 559, with a volume of 800,884 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on TATE. Berenberg Bank lifted their price objective on Tate & Lyle from GBX 464 to GBX 554 and gave the company a "hold" rating in a research report on Wednesday, May 27th. UBS Group reaffirmed a "neutral" rating and issued a GBX 375 target price on shares of Tate & Lyle in a research report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 595 price target on shares of Tate & Lyle in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of GBX 516.

Tate & Lyle Price Performance

The company's 50-day simple moving average is GBX 542.35 and its 200 day simple moving average is GBX 428.27. The company has a market capitalization of £2.47 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.37 and a beta of 0.34. The company has a quick ratio of 1.77, a current ratio of 2.71 and a debt-to-equity ratio of 80.98.

Tate & Lyle (LON:TATE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported GBX 22 earnings per share for the quarter. Tate & Lyle had a net margin of 4.84% and a return on equity of 6.17%. The business had revenue of GBX 200.60 billion for the quarter. As a group, sell-side analysts expect that Tate & Lyle plc will post 51.3392857 earnings per share for the current fiscal year.

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. The company offers dairy products, soups, sauces, and dressings; bakery products and snacks; texturants; nutritive sweeteners, such as high fructose corn syrup and dextrose; fibres; and stabilizers and functional systems.

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