Anglo-Eastern Plantations (LON:AEP) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Anglo-Eastern Plantations (LON:AEP) in a research note issued on Friday,London Stock Exchange reports. The firm set a “buy” rating and a GBX 250 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 38.89% from the company’s previous close.

Anglo-Eastern Plantations Price Performance

Anglo-Eastern Plantations stock traded up GBX 9 on Friday, reaching GBX 180. The company’s stock had a trading volume of 335,500 shares, compared to its average volume of 3,361,856. The business’s fifty day moving average price is GBX 872.87 and its 200 day moving average price is GBX 1,397.59. 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 company has a market cap of £690.47 million, a price-to-earnings ratio of 7.78 and a beta of 0.13. Anglo-Eastern Plantations has a twelve month low of GBX 88.40 and a twelve month high of GBX 229.

Anglo-Eastern Plantations declared that its Board of Directors has initiated a stock buyback program on Monday, July 6th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Anglo-Eastern Plantations Company Profile

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.