Anglo-Eastern Plantations (LON:AEP) Shares Cross Above 50-Day Moving Average – Should You Sell?

Anglo-Eastern Plantations Plc (LON:AEP)’s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 193.52 and traded as high as GBX 198. Anglo-Eastern Plantations shares last traded at GBX 195.40, with a volume of 264,614 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price objective on shares of Anglo-Eastern Plantations from GBX 250 to GBX 275 and gave the company a “buy” rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 275.

Anglo-Eastern Plantations Trading Down 0.2%

The company has a current ratio of 2.93, a quick ratio of 5.67 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of £747.52 million, a P/E ratio of 8.35 and a beta of 0.13. The business has a 50 day moving average of GBX 194.04 and a 200-day moving average of GBX 928.70.

Anglo-Eastern Plantations declared that its board has authorized a stock buyback plan on Monday, July 6th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Anglo-Eastern Plantations Company Profile

Anglo-Eastern Plantations Plc, quoted on the London Stock Exchange, owns, operates and develops plantations in Indonesia and Malaysia, which produce mainly palm oil and some rubber. The Group is committed to responsible development and management of its plantations and facilities for the benefit of the environment and society in which it operates in.