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

Inchcape plc (LON:INCH) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 712.53 and traded as high as GBX 766.50. Inchcape shares last traded at GBX 756, with a volume of 714,657 shares.

Analyst Ratings Changes

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

Inchcape Trading Down 1.1%

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 firm’s fifty day moving average is GBX 735.13 and its two-hundred day moving average is GBX 712.53. The firm has a market capitalization of £2.75 billion, a PE ratio of 7.20, a PEG ratio of 2.06 and a beta of 1.19.

Insider Buying and Selling at Inchcape

In other Inchcape news, insider Adrian Lewis bought 2,814 shares of Inchcape stock in a transaction dated Tuesday, September 9th. The stock was bought at an average cost of GBX 665 per share, with a total value of £18,713.10. 9.32% of the stock is 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.