Anglo-Eastern Plantations (LON:AEP) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Anglo-Eastern Plantations Plc (LON:AEP) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 186.17 and traded as high as GBX 209. Anglo-Eastern Plantations shares last traded at GBX 207.50, with a volume of 12,171,797 shares trading hands.

Analyst Ratings Changes

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

Anglo-Eastern Plantations Stock Up 2.7%

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 stock’s 50 day simple moving average is GBX 187.66 and its 200 day simple moving average is GBX 1,038.26. The firm has a market cap of £795.55 million, a P/E ratio of 8.86 and a beta of 0.13.

Anglo-Eastern Plantations declared that its Board of Directors has initiated a share repurchase plan on Monday, July 6th that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Anglo-Eastern Plantations

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.