Tate & Lyle (LON:TATE) Hits New 52-Week Low – Here’s What Happened

Tate & Lyle plc (LON:TATE) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as GBX 553.50 ($7.01) and last traded at GBX 553.50 ($7.01), with a volume of 2105537 shares trading hands. The stock had previously closed at GBX 568 ($7.20).

Wall Street Analysts Forecast Growth

TATE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Tate & Lyle from GBX 850 ($10.77) to GBX 950 ($12.04) and gave the company a “buy” rating in a research note on Wednesday, December 11th. Berenberg Bank lowered Tate & Lyle to a “hold” rating and cut their target price for the company from GBX 900 ($11.40) to GBX 600 ($7.60) in a research note on Tuesday.

Tate & Lyle Stock Performance

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 firm has a market cap of £2.40 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.37 and a beta of 0.50. The firm has a fifty day simple moving average of GBX 644.37 and a two-hundred day simple moving average of GBX 684.37.

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.