Inchcape (LON:INCH) Share Price Passes Above 200-Day Moving Average – Here’s Why

Inchcape plc (LON:INCH)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 705.81 and traded as high as GBX 751. Inchcape shares last traded at GBX 748.50, with a volume of 32,613,684 shares trading hands.

Analyst Upgrades and Downgrades

INCH has been the subject of several analyst reports. UBS Group reissued a “buy” rating and set a GBX 920 price target on shares of Inchcape in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 800 price objective on shares of Inchcape in a research report on Wednesday, July 30th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 target price on shares of Inchcape in a research report on Thursday, October 23rd. Citigroup upped their target price on shares of Inchcape from GBX 1,101 to GBX 1,115 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Inchcape in a research note on Thursday, October 16th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 988.75.

Inchcape Price Performance

The firm has a 50-day simple moving average of GBX 715.04 and a 200-day simple moving average of GBX 705.81. The firm has a market capitalization of £2.72 billion, a PE ratio of 7.13, a PEG ratio of 2.06 and a beta of 1.19. The company has a debt-to-equity ratio of 206.10, a current ratio of 1.10 and a quick ratio of 0.51.

Insider Transactions at Inchcape

In other Inchcape news, insider Adrian Lewis bought 2,814 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average cost of GBX 665 per share, for a total transaction of £18,713.10. Company insiders own 9.32% 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.