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

Inchcape plc (LON:INCH)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 780.88 and traded as high as GBX 825.60. Inchcape shares last traded at GBX 812.62, with a volume of 157,963,922 shares changing hands.

Analyst Upgrades and Downgrades

INCH has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Inchcape from GBX 1,115 to GBX 1,330 and gave the company a “buy” rating in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 1,050.

Inchcape Price Performance

The stock has a market capitalization of £2.89 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 2.06 and a beta of 0.89. The company’s 50-day simple moving average is GBX 816.07 and its 200-day simple moving average is GBX 781.50. The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51.

Inchcape (LON:INCH) last posted its earnings results on Tuesday, March 3rd. The company reported GBX 80.80 EPS for the quarter. Inchcape had a return on equity of 23.83% and a net margin of 2.99%. Research analysts forecast that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape announced that its board has authorized a share buyback program on Tuesday, March 3rd that permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Adrian Lewis sold 398 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 789, for a total value of £3,140.22. Insiders own 9.43% of the company’s stock.

Inchcape Company Profile

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. Our distribution platform connects the products of mobility company partners with customers, and our responsibilities span product planning and pricing, import and logistics, brand and marketing to operating digital sales, managing physical sales and aftermarket service channels.