Tate & Lyle (LON:TATE) Shares Up 52.6% – What’s Next?

Tate & Lyle plc (LON:TATE) shares shot up 52.6% during trading on Thursday . The company traded as high as GBX 580 and last traded at GBX 572. 25,863,629 shares were traded during trading, an increase of 51% from the average session volume of 17,132,434 shares. The stock had previously closed at GBX 374.80.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upgraded Tate & Lyle to a “buy” rating and boosted their target price for the stock from GBX 460 to GBX 595 in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 493.75.

Tate & Lyle Price Performance

The company has a debt-to-equity ratio of 83.31, a current ratio of 2.19 and a quick ratio of 1.77. The company has a 50-day moving average price of GBX 360.81 and a 200-day moving average price of GBX 372.60. The firm has a market capitalization of £2.39 billion, a PE ratio of 96.55, a P/E/G ratio of 1.37 and a beta of 0.28.

Tate & Lyle Company Profile

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. The company offers dairy products, soups, sauces, and dressings; bakery products and snacks; texturants; nutritive sweeteners, such as high fructose corn syrup and dextrose; fibres; and stabilizers and functional systems.