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

Inchcape plc (LON:INCH) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 802.95 and traded as high as GBX 823. Inchcape shares last traded at GBX 804, with a volume of 146,816,203 shares trading hands.

Analyst Ratings Changes

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

Inchcape Price Performance

The company has a debt-to-equity ratio of 100.56, a current ratio of 1.07 and a quick ratio of 0.51. The stock has a market cap of £2.87 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 2.06 and a beta of 0.97. The stock has a fifty day moving average of GBX 812.17 and a 200 day moving average of GBX 802.95.

Inchcape announced that its board has approved a share buyback program on Tuesday, March 3rd that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Inchcape

In related news, insider Adrian Lewis sold 45,674 shares of Inchcape stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. 13.29% of the stock is owned by company 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.