Tate & Lyle (LON:TATE) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Tate & Lyle shares crossed above their 200-day moving average, trading as high as GBX 559 and last changing hands at GBX 557.50. The move suggests improved short-term technical momentum for the stock.
• Analyst sentiment remains cautious overall, with a consensus rating of “Hold” and an average price target of GBX 516. Recent notes included neutral/hold ratings from UBS, Deutsche Bank, and Berenberg.
• The company reported its latest quarterly earnings on May 21, posting GBX 22 EPS, with analysts expecting about 51.34 EPS for the current fiscal year. Tate & Lyle also showed a quick ratio of 1.77 and a current ratio of 2.71.

Tate & Lyle plc (LON:TATE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 419.30 and traded as high as GBX 559. Tate & Lyle shares last traded at GBX 557.50, with a volume of 633,773 shares trading hands.

Wall Street Analysts Forecast Growth

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

Tate & Lyle Price Performance

The company has a debt-to-equity ratio of 80.98, a quick ratio of 1.77 and a current ratio of 2.71. The company has a market cap of £2.47 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.37 and a beta of 0.34. The firm's fifty day moving average is GBX 515.49 and its two-hundred day moving average is GBX 419.30.

Tate & Lyle (LON:TATE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The company reported GBX 22 EPS for the quarter. The business had revenue of GBX 200.60 billion for the quarter. Tate & Lyle had a return on equity of 6.17% and a net margin of 4.84%. As a group, analysts anticipate 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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