Inchcape (LON:INCH) Reaches New 52-Week High – What’s Next?

Inchcape plc (LON:INCH)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 884 and last traded at GBX 882.88, with a volume of 986570 shares changing hands. The stock had previously closed at GBX 837.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and set a GBX 1,120 target price on shares of Inchcape in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 988.75.

Inchcape Stock Up 5.1%

The firm has a market cap of £3.16 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The company’s 50-day simple moving average is GBX 794.26 and its 200 day simple moving average is GBX 739.12. The company has a debt-to-equity ratio of 206.10, a current ratio of 1.10 and a quick ratio of 0.51.

Insider Activity at Inchcape

In related news, insider Byron Elmer Grote acquired 5,000 shares of Inchcape stock in a transaction on Monday, December 8th. The shares were bought at an average cost of GBX 758 per share, with a total value of £37,900. Insiders own 9.43% 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.