M.P. Evans Group (LON:MPE) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

M.P. Evans Group PLC (LON:MPE) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,530.25 and traded as high as GBX 1,716. M.P. Evans Group shares last traded at GBX 1,626, with a volume of 118,544 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price objective on shares of M.P. Evans Group from GBX 1,750 to GBX 1,900 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 1,900.

M.P. Evans Group Stock Performance

The firm has a fifty day moving average of GBX 1,560.82 and a 200-day moving average of GBX 1,530.25. The stock has a market capitalization of £847.38 million, a price-to-earnings ratio of 7.71 and a beta of 0.31.

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.