Inchcape (LON:INCH) Shares Pass Above 200 Day Moving Average – What’s Next?

Inchcape plc (LON:INCH)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 813.96 and traded as high as GBX 840. Inchcape shares last traded at GBX 832.86, with a volume of 593,713 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup boosted their target price on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,170 price target on shares of Inchcape in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Inchcape from GBX 830 to GBX 870 and gave the company a “hold” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,050 price objective on shares of Inchcape in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,057.40.

Inchcape Stock Performance

The company has a market capitalization of £2.90 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 2.06 and a beta of 0.97. The stock’s 50 day moving average price is GBX 808.51 and its 200 day moving average price is GBX 813.96. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11.

Inchcape (LON:INCH) last released its earnings results on Tuesday, July 28th. The company reported GBX 35.50 earnings per share (EPS) for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. Analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current year.

Inchcape declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 28th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Tracy Clarke purchased 3,029 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average price of GBX 819 per share, with a total value of £24,807.51. 13.39% of the stock is currently 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.