M.P. Evans Group (LON:MPE) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• M.P. Evans Group PLC shares have crossed above their 200-day moving average, reaching as high as GBX 1,345 ($17.77) during trading.
• Canaccord Genuity Group has issued a "buy" rating with a price target of GBX 1,500 ($19.82) for the stock.
• The company is a sustainable crude palm oil producer with a market capitalization of £854.49 million and a P/E ratio of 13.26.

M.P. Evans Group PLC (LON:MPE - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,058.36 ($14.07) and traded as high as GBX 1,345 ($17.88). M.P. Evans Group shares last traded at GBX 1,330 ($17.68), with a volume of 15,124 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 1,500 ($19.94) price objective on shares of M.P. Evans Group in a report on Thursday, July 24th.

M.P. Evans Group Stock Up 2.3%

The firm has a market cap of £863.33 million, a price-to-earnings ratio of 13.40 and a beta of 0.69. The business's 50 day moving average price is GBX 1,145.09 and its 200 day moving average price is GBX 1,065. The company has a debt-to-equity ratio of 8.89, a quick ratio of 1.91 and a current ratio of 1.70.

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”).