Inchcape (LON:INCH) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Inchcape plc (LON:INCH)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 808.15 and traded as low as GBX 754.50. Inchcape shares last traded at GBX 771, with a volume of 44,929,879 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INCH. Citigroup upped their price objective on Inchcape from GBX 1,115 to GBX 1,330 and gave the company a “buy” rating in a research note on Thursday, March 5th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,170 price target on shares of Inchcape in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,050 price objective on shares of Inchcape in a 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 1,060.

Inchcape Trading Down 0.2%

The stock has a market cap of £2.72 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The firm’s 50 day moving average is GBX 817.73 and its two-hundred day moving average is GBX 808.15. The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 100.56.

Inchcape declared that its Board of Directors has approved a share buyback 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. Stock repurchase plans 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 stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. Insiders own 13.29% 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.