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

Inchcape plc (LON:INCH)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 762.28 and traded as high as GBX 817. Inchcape shares last traded at GBX 794.50, with a volume of 167,983 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INCH. Citigroup raised their target price on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the company a “buy” rating in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 1,050.

Inchcape Price Performance

The business has a 50 day moving average price of GBX 822.91 and a two-hundred day moving average price of GBX 763.37. The stock has a market cap of £2.83 billion, a PE ratio of 7.53, a P/E/G ratio of 2.06 and a beta of 0.89. The company has a debt-to-equity ratio of 100.56, a quick ratio of 0.51 and a current ratio of 1.07.

Inchcape (LON:INCH) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported GBX 80.80 earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.99% and a return on equity of 23.83%. Research analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its board has approved a stock buyback program on Tuesday, March 3rd that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.