Inchcape (LON:INCH) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Inchcape plc (LON:INCHGet Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 811.78 and traded as high as GBX 824. Inchcape shares last traded at GBX 818, with a volume of 950,064 shares.

Analysts Set New Price Targets

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

Read Our Latest Analysis on INCH

Inchcape Trading Down 1.8%

The firm has a market capitalization of £2.77 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11. The company’s fifty day moving average is GBX 823.26 and its 200-day moving average is GBX 811.72.

Inchcape (LON:INCHGet Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 earnings per share 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 fiscal year.

Inchcape declared that its Board of Directors has initiated a share buyback program on Tuesday, July 28th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Tracy Clarke purchased 3,029 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of GBX 819 per share, for a total transaction of £24,807.51. 9.43% of the stock is currently owned by company insiders.

About Inchcape

(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.

Further Reading

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