Anglo-Eastern Plantations (LON:AEP) Share Price Passes Below 200 Day Moving Average – Here’s Why

Anglo-Eastern Plantations Plc (LON:AEP)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,171.84 and traded as low as GBX 191.20. Anglo-Eastern Plantations shares last traded at GBX 192, with a volume of 531,948 shares traded.

Analyst Upgrades and Downgrades

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 note on Friday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 275.

Anglo-Eastern Plantations Price Performance

The company has a debt-to-equity ratio of 2.46, a quick ratio of 5.67 and a current ratio of 2.93. The business has a 50 day moving average price of GBX 176.75 and a 200-day moving average price of GBX 1,165.02. The company has a market capitalization of £751.59 million, a price-to-earnings ratio of 8.49 and a beta of 0.13.

Anglo-Eastern Plantations announced that its Board of Directors has authorized a share buyback program on Monday, July 6th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is 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.