M.P. Evans Group (LON:MPE) Sets New 12-Month High - Should You Buy?

Key Points

• New 52-week high: Shares hit a new 52-week high of GBX 1,568 and last traded at GBX 1,560, up about 3.1% on volume of 181,010 shares.
• Analyst outlook: Canaccord Genuity reaffirmed a Buy rating with a GBX 1,750 price target, and MarketBeat shows a consensus Buy with an average target of GBX 1,750.
• Insider activity & valuation: Insider Tanya Ashton bought 669 shares at GBX 1,493 while Matthew Coulson sold 8,450 shares at GBX 1,239 (insiders own 8.70%); the company’s market cap is £812.64m with a P/E of 7.35.

Shares of M.P. Evans Group PLC (LON:MPE - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 1,568 and last traded at GBX 1,560, with a volume of 181010 shares traded. The stock had previously closed at GBX 1,510.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 1,750 price objective on shares of M.P. Evans Group in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, M.P. Evans Group has a consensus rating of "Buy" and an average target price of GBX 1,750.

M.P. Evans Group Trading Up 3.1%

The firm's 50-day moving average is GBX 1,451.08 and its 200-day moving average is GBX 1,339.62. The firm has a market cap of £812.64 million, a price-to-earnings ratio of 7.35 and a beta of 0.26.

Insider Buying and Selling at M.P. Evans Group

In other M.P. Evans Group news, insider Tanya Ashton purchased 669 shares of M.P. Evans Group stock in a transaction that occurred on Tuesday, March 24th. The stock was acquired at an average price of GBX 1,493 per share, with a total value of £9,988.17. Also, insider Matthew Coulson sold 8,450 shares of M.P. Evans Group stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of GBX 1,239, for a total transaction of £104,695.50. Company insiders own 8.70% of the company's stock.

About M.P. Evans Group

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.

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