Anglo-Eastern Plantations (LON:AEP) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of Anglo-Eastern Plantations Plc (LON:AEP) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,235.59 and traded as low as GBX 190. Anglo-Eastern Plantations shares last traded at GBX 193.40, with a volume of 421,953 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group began coverage on shares of Anglo-Eastern Plantations in a research note on Friday, July 31st. They set a “buy” rating and a GBX 250 price objective on the stock. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Anglo-Eastern Plantations currently has a consensus rating of “Buy” and an average target price of GBX 250.

Anglo-Eastern Plantations Trading Down 0.7%

The firm has a 50-day moving average of GBX 309.91 and a two-hundred day moving average of GBX 1,226.26. The firm has a market capitalization of £743.55 million, a P/E ratio of 8.40 and a beta of 0.13. The company has a current ratio of 8.69, a quick ratio of 5.67 and a debt-to-equity ratio of 0.09.

Anglo-Eastern Plantations declared that its Board of Directors has approved a stock buyback program on Monday, July 6th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.