Anglo-Eastern Plantations (LON:AEP) Stock Passes 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 Monday . The stock has a 200-day moving average of GBX 1,290.48 and traded as low as GBX 178.40. Anglo-Eastern Plantations shares last traded at GBX 179.40, with a volume of 241,132 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group assumed coverage on shares of Anglo-Eastern Plantations in a report on Friday, July 31st. They issued a “buy” rating and a GBX 250 price target on the stock. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 250.

Anglo-Eastern Plantations Stock Up 4.7%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.67 and a current ratio of 8.69. The firm has a market capitalization of £747.15 million, a P/E ratio of 8.44 and a beta of 0.13. The stock has a fifty day moving average price of GBX 481.95 and a two-hundred day moving average price of GBX 1,281.48.

Anglo-Eastern Plantations announced that its board has authorized a stock repurchase plan 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. Stock buyback plans are typically an indication 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.