M.P. Evans Group (LON:MPE) Trading Up 10.2% – Here’s Why

Shares of M.P. Evans Group PLC (LON:MPE) rose 10.2% during mid-day trading on Thursday . The company traded as high as GBX 1,526 and last traded at GBX 1,510. Approximately 302,498 shares were traded during trading, an increase of 32% from the average daily volume of 229,752 shares. The stock had previously closed at GBX 1,370.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 1,750 price objective on shares of M.P. Evans Group in a report on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 1,750.

M.P. Evans Group Price Performance

The business’s 50-day moving average price is GBX 1,627.84 and its two-hundred day moving average price is GBX 1,426.53. The company has a market capitalization of £780.55 million, a price-to-earnings ratio of 7.06 and a beta of 0.34.

Insider Buying and Selling at M.P. Evans Group

In related news, insider Tanya Ashton bought 669 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average price of GBX 1,493 per share, with a total value of £9,988.17. Insiders own 8.70% of the company’s stock.

M.P. Evans Group Company Profile

M.P. Evans Group PLC is a responsible producer of certified sustainable crude palm oil (“CPO”), with plantations in five Indonesian provinces: Aceh, Bangka Belitung, East Kalimantan, North Sumatra and South Sumatra.

Headquartered in the UK, the Group’s shares are traded on the London Stock Exchange’s Alternative Investment Market (“AIM”).

The Group was founded by Matthew Pennefather Evans in the 1870s and its long history in tropical agriculture includes experience in tea and rubber plantations.