Inchcape (LON:INCH) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Inchcape plc (LON:INCH)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,050 price objective on shares of Inchcape in a research report on Wednesday, July 29th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 1,170 target price on shares of Inchcape in a report on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 1,057.40.

Inchcape Price Performance

The stock has a market cap of £2.92 billion, a PE ratio of 13.21, a P/E/G ratio of 2.06 and a beta of 0.97. The business has a fifty day simple moving average of GBX 808.35 and a two-hundred day simple moving average of GBX 814.13. 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 EPS for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. Research analysts forecast 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 permits the company to buyback 0 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Inchcape

In other Inchcape news, insider Tracy Clarke bought 3,029 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average price of GBX 819 per share, for a total transaction of £24,807.51. Company insiders own 13.45% 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.