Inchcape (LON:INCH) Shares Pass 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 730.82 and traded as high as GBX 797. Inchcape shares last traded at GBX 785, with a volume of 663,718 shares.

Wall Street Analysts Forecast Growth

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

Inchcape Price Performance

The company has a market capitalization of £2.87 billion, a P/E ratio of 7.58, a P/E/G ratio of 2.06 and a beta of 1.19. The firm’s fifty day moving average is GBX 765.65 and its 200 day moving average is GBX 730.82. The company has a debt-to-equity ratio of 206.10, a quick ratio of 0.51 and a current ratio of 1.10.

Insider Activity at Inchcape

In other Inchcape news, insider Byron Elmer Grote purchased 5,000 shares of Inchcape stock in a transaction dated Monday, December 8th. The shares were purchased at an average cost of GBX 758 per share, for a total transaction of £37,900. Corporate insiders own 9.39% 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.