Tate & Lyle (LON:TATE) Downgraded by Berenberg Bank to “Hold”

Berenberg Bank lowered shares of Tate & Lyle (LON:TATE) to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat reports. Berenberg Bank currently has GBX 600 ($7.57) price objective on the stock, down from their prior price objective of GBX 900 ($11.35).

Separately, Deutsche Bank Aktiengesellschaft raised their target price on Tate & Lyle from GBX 850 ($10.72) to GBX 950 ($11.98) and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Tate & Lyle Stock Performance

TATE stock traded down GBX 8.50 ($0.11) during midday trading on Tuesday, reaching GBX 545 ($6.88). 5,032,821 shares of the company’s stock traded hands, compared to its average volume of 3,980,875. The stock’s 50-day moving average is GBX 654.01 and its 200 day moving average is GBX 686.97. The stock has a market cap of £2.37 billion, a P/E ratio of 11.37, a PEG ratio of 1.37 and a beta of 0.50. Tate & Lyle has a 52-week low of GBX 531.50 ($6.70) and a 52-week high of GBX 848.50 ($10.70). The company has a current ratio of 3.22, a quick ratio of 1.77 and a debt-to-equity ratio of 47.66.

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.