Inchcape (LON:INCH) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Inchcape plc (LON:INCH) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 721.64 and traded as high as GBX 776. Inchcape shares last traded at GBX 768, with a volume of 135,382 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup upped their target price on Inchcape from GBX 1,101 to GBX 1,115 and gave the company a “buy” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Inchcape in a report on Thursday, October 16th. UBS Group restated a “buy” rating and issued a GBX 920 price objective on shares of Inchcape in a research report on Friday, October 17th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 1,120 price objective on shares of Inchcape in a research report on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 988.75.

Inchcape Stock Performance

The firm has a market cap of £2.77 billion, a PE ratio of 7.31, a P/E/G ratio of 2.06 and a beta of 1.19. The stock has a 50-day moving average price of GBX 756.09 and a 200 day moving average price of GBX 721.64. 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 Buying and Selling at Inchcape

In related news, insider Byron Elmer Grote bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were acquired at an average cost of GBX 758 per share, with a total value of £37,900. 9.39% of the stock is currently owned by insiders.

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.