Tate & Lyle (LON:TATE) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Shares of Tate & Lyle plc fell below their 200-day moving average during recent trading, hitting a low of GBX 462.20 ($6.22).
• Analysts have mixed ratings on Tate & Lyle, with a consensus rating of "Hold" and an average target price of GBX 676.67, while Deutsche Bank maintains a "buy" rating with a target price of GBX 800.
• Insider Sarah Kuijlaars recently acquired 15,000 shares of the company at an average cost of GBX 518 per share, highlighting confidence in the firm's prospects.

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 534.02 ($7.18) and traded as low as GBX 462.20 ($6.22). Tate & Lyle shares last traded at GBX 462.20 ($6.22), with a volume of 2,617,444 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TATE shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 800 target price on shares of Tate & Lyle in a research note on Thursday, July 3rd. Berenberg Bank boosted their target price on shares of Tate & Lyle from GBX 600 to GBX 620 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of GBX 676.67.

Tate & Lyle Trading Up 0.5%

The business's 50 day simple moving average is GBX 525.45 and its 200-day simple moving average is GBX 534.02. 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 stock has a market capitalization of £2.05 billion, a P/E ratio of 1,346.09, a PEG ratio of 1.37 and a beta of 0.50.

Insider Activity at Tate & Lyle

In related news, insider Sarah Kuijlaars acquired 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was acquired at an average cost of GBX 518 per share, with a total value of £77,700. 1.65% of the stock is currently 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.

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