Inchcape (LON:INCH) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Inchcape plc (LON:INCH) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 695.25 ($9.30) and traded as high as GBX 736.50 ($9.85). Inchcape shares last traded at GBX 732 ($9.79), with a volume of 424,704 shares.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,120 price target on shares of Inchcape in a report on Tuesday, September 2nd. Citigroup boosted their target price on Inchcape from GBX 1,101 to GBX 1,115 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 800 target price on shares of Inchcape in a report on Wednesday, July 30th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Inchcape in a report on Thursday, October 16th. Finally, UBS Group reissued a “buy” rating and issued a GBX 920 target price on shares of Inchcape in a report on Friday, October 17th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 988.75.

Inchcape Stock Performance

The company has a 50 day simple moving average of GBX 683.73 and a 200 day simple moving average of GBX 695.25. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10. The stock has a market capitalization of £2.68 billion, a PE ratio of 6.97, a P/E/G ratio of 2.06 and a beta of 1.19.

Inchcape (LON:INCH) last posted its quarterly earnings data on Tuesday, July 29th. The company reported GBX 35.50 EPS for the quarter. Inchcape had a return on equity of 17.60% and a net margin of 2.45%. Analysts predict that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Insider Buying and Selling at Inchcape

In related news, insider Stuart Rowley acquired 3,000 shares of Inchcape stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of GBX 929 per share, with a total value of £27,870. Also, insider Byron Elmer Grote acquired 3,500 shares of Inchcape stock in a transaction on Tuesday, August 5th. The shares were bought at an average cost of GBX 671 per share, with a total value of £23,485. Insiders purchased a total of 15,718 shares of company stock valued at $11,565,470 in the last ninety days. Insiders own 9.26% of the company’s stock.

About Inchcape

Inchcape is the leading global automotive distributor, with operations across six continents. By combining our in-market expertise with our unique technology and advanced data analytics, we create innovative customer experiences that deliver outstanding performance for our partners – building stronger automotive brands and creating sustainable growth.