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 Tuesday. The stock has a 50 day moving average of GBX 190.99 and traded as high as GBX 211.51. Anglo-Eastern Plantations shares last traded at GBX 205.50, with a volume of 185,845 shares changing hands.

Analyst Upgrades and Downgrades

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

Anglo-Eastern Plantations Stock Performance

The company has a market cap of £756.25 million, a price-to-earnings ratio of 8.43 and a beta of 0.13. The company has a debt-to-equity ratio of 2.46, a current ratio of 2.93 and a quick ratio of 5.67. The stock has a 50-day moving average price of GBX 191.49 and a 200 day moving average price of GBX 989.23.

Anglo-Eastern Plantations announced that its board has initiated a share repurchase program 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. Shares buyback programs are often an indication that the company’s board 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.