Analysts Set Tate & Lyle PLC (LON:TATE) PT at GBX 719

Shares of Tate & Lyle PLC (LON:TATE) have earned an average rating of “Hold” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 711.25 ($9.29).

A number of analysts have commented on the stock. Barclays reiterated a “sell” rating and issued a $5.00 price target on shares of Deutsche Bank in a research note on Wednesday. Goldman Sachs Group set a $27.00 price target on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a research note on Tuesday, May 28th. Shore Capital reiterated a “buy” rating on shares of Polypipe Group in a research note on Thursday, May 23rd. Deutsche Bank increased their price target on shares of Spirit Airlines from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 3,000 ($39.20) price target on shares of in a research note on Monday, June 3rd.

In other Tate & Lyle news, insider Nick Hampton sold 333,000 shares of the firm’s 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).

Shares of Tate & Lyle stock traded up GBX 6.40 ($0.08) on Tuesday, hitting GBX 762.60 ($9.96). The company had a trading volume of 1,012,271 shares, compared to its average volume of 2,840,000. The company has a market capitalization of $3.57 billion and a price-to-earnings ratio of 19.76. Tate & Lyle has a twelve month low of GBX 620 ($8.10) and a twelve month high of GBX 810 ($10.58). The company has a debt-to-equity ratio of 40.09, a current ratio of 1.61 and a quick ratio of 0.88. The company has a 50-day simple moving average of GBX 746.91.

The firm also recently declared a dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 20th will be given a dividend of GBX 20.80 ($0.27) per share. This represents a yield of 2.75%. This is a positive change from Tate & Lyle’s previous dividend of $8.60. The ex-dividend date of this dividend is Thursday, June 20th. Tate & Lyle’s dividend payout ratio (DPR) is currently 0.75%.

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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