Inchcape (LON:INCH) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Inchcape plc (LON:INCH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 806.20 and traded as high as GBX 820. Inchcape shares last traded at GBX 814, with a volume of 997,501 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,050 target price on shares of Inchcape in a report on Thursday, April 30th. Berenberg Bank restated a “buy” rating and set a GBX 1,170 price target on shares of Inchcape in a research note on Thursday, April 30th. Citigroup upped their price objective on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,060.

Inchcape Price Performance

The firm has a market cap of £2.87 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 2.06 and a beta of 0.97. 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 has a 50 day simple moving average of GBX 818.76 and a 200-day simple moving average of GBX 806.20.

Inchcape announced that its Board of Directors has approved a stock repurchase program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Inchcape

In other news, insider Adrian Lewis sold 45,674 shares of the firm’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. 13.29% of the stock is owned by corporate 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.