Inchcape (LON:INCH) Shares Cross Above 200-Day Moving Average – Time to Sell?

Inchcape plc (LON:INCH) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 767.38 and traded as high as GBX 790.50. Inchcape shares last traded at GBX 787, with a volume of 269,529 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on INCH. Deutsche Bank Aktiengesellschaft lifted their target price on Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Citigroup upped their price target on Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Inchcape presently has an average rating of “Moderate Buy” and an average price target of GBX 1,050.

Inchcape Stock Performance

The company has a market capitalization of £2.82 billion, a P/E ratio of 7.50, a P/E/G ratio of 2.06 and a beta of 0.89. 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 business’s fifty day simple moving average is GBX 822.80 and its 200-day simple moving average is GBX 767.38.

Inchcape (LON:INCH) last posted 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%. As a group, equities analysts anticipate that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape announced that its board has initiated a stock repurchase plan on Tuesday, March 3rd that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.