Tate & Lyle PLC (LON:TATE)’s share price rose 0% on Friday . The stock traded as high as GBX 701.80 ($9.38) and last traded at GBX 699.60 ($9.35). Approximately 2,420,000 shares traded hands during trading, a decline of 31% from the average daily volume of 3,510,000 shares. The stock had previously closed at GBX 699.60 ($9.35).
TATE has been the subject of several research reports. Jefferies Group upgraded shares of Tate & Lyle to a “buy” rating and reduced their price objective for the company from GBX 800 ($10.70) to GBX 750 ($10.03) in a research report on Monday, October 23rd. Deutsche Bank restated a “hold” rating and set a GBX 725 ($9.69) price objective on shares of Tate & Lyle in a research report on Friday, November 3rd. Liberum Capital restated a “buy” rating and set a GBX 850 ($11.37) price objective on shares of Tate & Lyle in a research report on Tuesday, December 19th. Credit Suisse Group restated a “neutral” rating and set a GBX 710 ($9.49) price objective on shares of Tate & Lyle in a research report on Friday, November 3rd. Finally, Berenberg Bank reduced their price objective on shares of Tate & Lyle from GBX 805 ($10.76) to GBX 730 ($9.76) and set a “hold” rating for the company in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Tate & Lyle has a consensus rating of “Hold” and an average price target of GBX 743.36 ($9.94).
The firm has a market capitalization of $3,260.00 and a P/E ratio of 1,320.00.
The company also recently disclosed a dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, November 30th were paid a dividend of GBX 8.40 ($0.11) per share. This represents a yield of 1.19%. The ex-dividend date of this dividend was Thursday, November 30th.
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Tate & Lyle Company Profile
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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