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

Shares of Tate & Lyle plc (LON:TATE) hit a new 52-week low 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 changing hands. The stock had previously closed at GBX 568 ($7.20).

Wall Street Analyst Weigh In

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

Tate & Lyle Price Performance

The firm has a market capitalization of £2.40 billion, a PE ratio of 11.50, a PEG ratio of 1.37 and a beta of 0.50. The stock has a 50-day moving average price of GBX 644.37 and a 200 day moving average price of GBX 684.37. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.66.

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.