Barclays Reaffirms Overweight Rating for Tate & Lyle (LON:TATE)

Barclays restated their overweight rating on shares of Tate & Lyle (LON:TATE) in a research note released on Wednesday, ThisIsMoney.Co.Uk reports.

TATE has been the subject of several other reports. Jefferies Financial Group reissued a buy rating and set a GBX 3,000 ($39.20) price target on shares of in a report on Monday, June 3rd. Liberum Capital reissued a sell rating on shares of Pendragon in a report on Thursday, June 27th. Berenberg Bank reaffirmed a buy rating and issued a GBX 3,050 ($39.85) target price on shares of Cranswick in a report on Tuesday, May 28th. Deutsche Bank increased their target price on shares of Spirit Airlines from $75.00 to $79.00 and gave the company a buy rating in a report on Friday, July 12th. Finally, Shore Capital reaffirmed a buy rating on shares of Polypipe Group in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of GBX 756.43 ($9.88).

LON TATE opened at GBX 762.60 ($9.96) on Wednesday. The stock has a market capitalization of $3.57 billion and a PE ratio of 19.76. Tate & Lyle has a 52-week low of GBX 620 ($8.10) and a 52-week high of GBX 810 ($10.58). The business’s 50-day moving average price is GBX 746.91. The company has a quick ratio of 0.88, a current ratio of 1.61 and a debt-to-equity ratio of 40.09.

The business also recently announced a dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 20th will be issued a GBX 20.80 ($0.27) dividend. The ex-dividend date is Thursday, June 20th. This is a boost from Tate & Lyle’s previous dividend of $8.60. This represents a yield of 2.75%. Tate & Lyle’s dividend payout ratio (DPR) is 0.75%.

In other Tate & Lyle news, insider Nick Hampton sold 333,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of GBX 725 ($9.47), for a total value of £2,414,250 ($3,154,645.24).

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.

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Analyst Recommendations for Tate & Lyle (LON:TATE)

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