Tate & Lyle (OTCMKTS:TATYY) Shares Gap Up – Time to Buy?

Tate & Lyle PLC (OTCMKTS:TATYY) gapped up before the market opened on Wednesday . The stock had previously closed at $28.56, but opened at $29.50. Tate & Lyle shares last traded at $29.50, with a volume of 172 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group upgraded Tate & Lyle to a “hold” rating in a research note on Tuesday, June 24th. Citigroup upgraded Tate & Lyle from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Tate & Lyle has an average rating of “Buy”.

Tate & Lyle Price Performance

The company has a current ratio of 2.16, a quick ratio of 1.21 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $29.20 and a 200-day moving average price of $29.14.

Tate & Lyle Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, June 23rd were paid a $0.6696 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a dividend yield of 319.0%. This is an increase from Tate & Lyle’s previous dividend of $0.33.

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.