Inchcape (LON:INCH) Stock Passes Above 200 Day Moving Average – What’s Next?

Inchcape plc (LON:INCH)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 794.86 and traded as high as GBX 823. Inchcape shares last traded at GBX 820, with a volume of 61,853,820 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,170 target price on shares of Inchcape in a research report on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,050 target price on shares of Inchcape in a research report on Thursday, April 30th. Finally, Citigroup raised their target price on Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 1,060.

Inchcape Stock Performance

The company has a debt-to-equity ratio of 100.56, a quick ratio of 0.51 and a current ratio of 1.07. The company has a 50 day moving average price of GBX 802.84 and a 200 day moving average price of GBX 795.49. The company has a market capitalization of £2.94 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH) last issued 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%. Equities research analysts predict that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its board has initiated a share repurchase plan on Tuesday, March 3rd that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Inchcape

In other Inchcape news, insider Adrian Lewis sold 45,674 shares of Inchcape stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. Company insiders own 9.43% 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. 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.