Tate & Lyle PLC (LON:TATE)’s share price shot up 1% during trading on Wednesday . The company traded as high as GBX 652.67 ($8.67) and last traded at GBX 652 ($8.66). 1,475,527 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,641,480 shares. The stock had previously closed at GBX 645.50 ($8.58).
A number of research firms have recently commented on TATE. Credit Suisse Group cut their price target on Tate & Lyle PLC from GBX 780 ($10.36) to GBX 710 ($9.43) and set a “neutral” rating for the company in a report on Tuesday. Deutsche Bank AG reaffirmed a “hold” rating and issued a GBX 725 ($9.63) price target on shares of Tate & Lyle PLC in a report on Friday, July 28th. Berenberg Bank cut their price target on Tate & Lyle PLC from GBX 805 ($10.70) to GBX 730 ($9.70) and set a “hold” rating for the company in a report on Friday, September 22nd. Kepler Capital Markets reaffirmed a “reduce” rating and issued a GBX 690 ($9.17) price target on shares of Tate & Lyle PLC in a report on Thursday, July 27th. Finally, Liberum Capital reaffirmed a “buy” rating and issued a GBX 850 ($11.29) price target on shares of Tate & Lyle PLC in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. Tate & Lyle PLC presently has a consensus rating of “Hold” and an average target price of GBX 771.69 ($10.25).
The firm’s market capitalization is GBX 3.02 billion. The stock’s 50 day moving average is GBX 655.41 and its 200-day moving average is GBX 705.17.
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About Tate & Lyle PLC
Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The Company’s segments include Speciality Food Ingredients and Bulk Ingredients. The Speciality Food Ingredients segment’s product categories include dairy, beverage, bakery and convenience. The Bulk Ingredients segment’s product lines include bulk sweeteners for food and beverage customers, and industrial starches for paper and construction industries.
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