Inchcape (LON:INCH) Share Price Passes Above 200-Day Moving Average – Here’s Why

Inchcape plc (LON:INCH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 799.66 and traded as high as GBX 846. Inchcape shares last traded at GBX 839.56, with a volume of 630,821 shares.

Analyst Upgrades and Downgrades

INCH has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,050 price objective on shares of Inchcape in a research report on Thursday, April 30th. Citigroup boosted their price objective 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. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Inchcape has an average rating of “Moderate Buy” and an average target price of GBX 1,060.

Inchcape Stock Performance

The firm has a fifty day simple moving average of GBX 808.50 and a 200 day simple moving average of GBX 799.66. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 100.56. The stock has a market cap of £2.97 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH) last posted its quarterly 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, sell-side analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current year.

Inchcape declared that its board has approved a stock repurchase plan on Tuesday, March 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Inchcape news, insider Adrian Lewis sold 45,674 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total value of £379,094.20. 9.43% of the stock is currently owned by company insiders.

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.