Inchcape (LON:INCH) Shares Pass Above 200-Day Moving Average – Time to Sell?

Inchcape plc (LON:INCHGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 815.34 and traded as high as GBX 833.50. Inchcape shares last traded at GBX 820.50, with a volume of 374,735 shares.

Analyst Upgrades and Downgrades

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

Get Our Latest Analysis on Inchcape

Inchcape Stock Down 0.1%

The stock has a market capitalization of £2.92 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 125.11. The firm has a 50-day moving average of GBX 808.58 and a two-hundred day moving average of GBX 815.38.

Inchcape (LON:INCHGet Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Inchcape plc will post 85.9639233 earnings per share for the current year.

Inchcape announced that its board has initiated a share repurchase program on Tuesday, July 28th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Inchcape

In related news, insider Tracy Clarke acquired 3,029 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of GBX 819 per share, with a total value of £24,807.51. Corporate insiders own 13.45% of the company’s stock.

Inchcape Company Profile

(Get Free Report)

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.

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