Inchcape (LON:INCH) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Inchcape plc (LON:INCH)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 693.86 ($9.25) and traded as high as GBX 736 ($9.82). Inchcape shares last traded at GBX 732.56 ($9.77), with a volume of 727,500 shares.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Inchcape from GBX 1,161 to GBX 1,101 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. UBS Group started coverage on Inchcape in a report on Thursday, September 18th. They issued a “buy” rating and a GBX 920 target price on the stock. Berenberg Bank reissued a “buy” rating and issued a GBX 1,120 price target on shares of Inchcape in a research note on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 800 price target on shares of Inchcape in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Inchcape in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 985.25.

Inchcape Stock Down 0.4%

The company has a debt-to-equity ratio of 206.10, a current ratio of 1.10 and a quick ratio of 0.51. The business has a fifty day moving average price of GBX 677.40 and a two-hundred day moving average price of GBX 693.86. The firm has a market cap of £2.67 billion, a PE ratio of 695.03, a P/E/G ratio of 2.06 and a beta of 1.19.

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

Insider Activity

In other news, insider Byron Elmer Grote bought 5,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of GBX 725 per share, for a total transaction of £36,250. Also, insider Stuart Rowley bought 3,000 shares of the stock in a transaction on Friday, August 1st. The stock was purchased at an average price of GBX 929 per share, for a total transaction of £27,870. Insiders have purchased a total of 15,718 shares of company stock worth $11,565,470 in the last ninety days. Corporate insiders own 9.26% 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.