Tate & Lyle (LON:TATE) Sets New 12-Month Low – Time to Sell?

Tate & Lyle plc (LON:TATE)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as GBX 531 ($6.75) and last traded at GBX 532 ($6.76), with a volume of 402476 shares changing hands. The stock had previously closed at GBX 535.50 ($6.81).

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TATE. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tate & Lyle from GBX 850 ($10.80) to GBX 950 ($12.07) and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup reduced their price objective on shares of Tate & Lyle from GBX 725 ($9.21) to GBX 610 ($7.75) and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Berenberg Bank downgraded Tate & Lyle to a “hold” rating and dropped their price objective for the company from GBX 900 ($11.44) to GBX 600 ($7.62) in a research report on Tuesday, February 18th.

Tate & Lyle Stock Performance

The company has a debt-to-equity ratio of 47.66, a quick ratio of 1.77 and a current ratio of 3.22. The stock has a market cap of £2.33 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. The firm has a fifty day moving average price of GBX 625.39 and a 200 day moving average price of GBX 680.55.

Insider Activity at Tate & Lyle

In other Tate & Lyle news, insider Sarah Kuijlaars acquired 20,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of GBX 564 ($7.17) per share, with a total value of £112,800 ($143,347.31). 2.22% of the stock is currently owned by 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.