M.P. Evans Group (LON:MPE) Sets New 1-Year High – Here’s Why

Shares of M.P. Evans Group PLC (LON:MPE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 2,260 and last traded at GBX 2,185, with a volume of 1990909 shares trading hands. The stock had previously closed at GBX 2,045.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their target price on M.P. Evans Group from GBX 1,900 to GBX 2,500 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, M.P. Evans Group currently has a consensus rating of “Buy” and a consensus target price of GBX 2,500.

M.P. Evans Group Price Performance

The stock has a market capitalization of £1.14 billion, a PE ratio of 10.39 and a beta of 0.33. The firm’s fifty day moving average price is GBX 1,749.89 and its two-hundred day moving average price is GBX 1,636.67.

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.