Inchcape (LON:INCH) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Inchcape plc (LON:INCH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 721.64 and traded as high as GBX 776. Inchcape shares last traded at GBX 768, with a volume of 135,382 shares.

Analyst Ratings Changes

INCH has been the topic of a number of research analyst reports. Citigroup lifted their target price on Inchcape from GBX 1,101 to GBX 1,115 and gave the company a “buy” rating in a report on Monday, October 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Inchcape in a research note on Thursday, October 16th. UBS Group reiterated a “buy” rating and set a GBX 920 target price on shares of Inchcape in a report on Friday, October 17th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 1,120 price target on shares of Inchcape in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 988.75.

Inchcape Stock Down 1.0%

The firm’s 50 day moving average price is GBX 756.09 and its two-hundred day moving average price is GBX 721.64. The firm has a market capitalization of £2.77 billion, a PE ratio of 7.31, a P/E/G ratio of 2.06 and a beta of 1.19. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 206.10.

Insider Buying and Selling

In other Inchcape news, insider Byron Elmer Grote acquired 5,000 shares of the stock in a transaction on Monday, December 8th. The stock was purchased at an average price of GBX 758 per share, for a total transaction of £37,900. Corporate insiders own 9.39% of the company’s stock.

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.