Tate & Lyle (LON:TATE) Reaches New 12-Month High – What’s Next?

Tate & Lyle plc (LON:TATE) shares hit a new 52-week high on Monday . The stock traded as high as GBX 650 and last traded at GBX 552, with a volume of 138464141 shares trading hands. The stock had previously closed at GBX 505.93.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating and set a GBX 375 target price on shares of Tate & Lyle in a report on Monday, May 18th. Berenberg Bank increased their price target on shares of Tate & Lyle from GBX 464 to GBX 554 and gave the company a “hold” rating in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded Tate & Lyle to a “buy” rating and boosted their price objective for the stock from GBX 460 to GBX 595 in a report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 516.

Tate & Lyle Stock Up 9.1%

The company has a current ratio of 2.71, a quick ratio of 1.77 and a debt-to-equity ratio of 80.98. The stock has a market cap of £2.44 billion, a P/E ratio of 25.44, a PEG ratio of 1.37 and a beta of 0.35. The firm has a 50-day simple moving average of GBX 408.45 and a two-hundred day simple moving average of GBX 385.12.

Tate & Lyle (LON:TATE) last announced its earnings results on Thursday, May 21st. The company reported GBX 22 earnings per share (EPS) for the quarter. Tate & Lyle had a net margin of 4.84% and a return on equity of 6.17%. The company had revenue of GBX 200.60 billion during the quarter. Equities research analysts expect that Tate & Lyle plc will post 51.3392857 earnings per share for the current fiscal year.

Tate & Lyle Company Profile

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.