M.P. Evans Group (LON:MPE) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of M.P. Evans Group PLC (LON:MPE) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,547 and traded as high as GBX 1,692. M.P. Evans Group shares last traded at GBX 1,674, with a volume of 32,516 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their target price on M.P. Evans Group from GBX 1,750 to GBX 1,900 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 1,900.

M.P. Evans Group Trading Down 0.3%

The company has a market capitalization of £866.30 million, a P/E ratio of 7.88 and a beta of 0.32. The business’s 50-day simple moving average is GBX 1,576.27 and its 200 day simple moving average is GBX 1,547.

M.P. Evans Group Company Profile

M.P. Evans Group PLC is a responsible producer of certified sustainable crude palm oil (“CPO”), with plantations in five Indonesian provinces: Aceh, Bangka Belitung, East Kalimantan, North Sumatra and South Sumatra.

Headquartered in the UK, the Group’s shares are traded on the London Stock Exchange’s Alternative Investment Market (“AIM”).

The Group was founded by Matthew Pennefather Evans in the 1870s and its long history in tropical agriculture includes experience in tea and rubber plantations.