Tate & Lyle (LON:TATE) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Tate & Lyle's stock price has crossed above its 200-day moving average, trading at GBX 547 ($7.34) with a recent high of GBX 549 ($7.37).
• Analysts have mixed ratings for the stock, with a consensus price target of GBX 676.67 and a "Hold" rating from most, although Deutsche Bank maintains a "Buy" rating with a target of GBX 800.
• Insider Sarah Kuijlaars purchased 15,000 shares at GBX 518, indicating confidence in the company amid a 0.3% decline in stock price recently.

Tate & Lyle plc (LON:TATE - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 544.51 ($7.34) and traded as high as GBX 549 ($7.40). Tate & Lyle shares last traded at GBX 547 ($7.37), with a volume of 315,402 shares changing hands.

Wall Street Analyst Weigh In

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

Tate & Lyle Price Performance

The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66. The firm has a market cap of £2.36 billion, a P/E ratio of 11.28, a PEG ratio of 1.37 and a beta of 0.50. The business has a fifty day moving average of GBX 533.27 and a 200 day moving average of GBX 541.63.

Insider Transactions at Tate & Lyle

In other news, insider Sarah Kuijlaars acquired 15,000 shares of Tate & Lyle stock in a transaction dated Tuesday, July 15th. The stock was bought at an average price of GBX 518 per share, for a total transaction of £77,700. 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.