Inchcape (LON:INCH) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Inchcape plc (LON:INCH) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of GBX 808.66 and traded as low as GBX 731.50. Inchcape shares last traded at GBX 732, with a volume of 552,677 shares trading hands.

Analyst Upgrades and Downgrades

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

Inchcape Price Performance

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 firm’s 50-day moving average price is GBX 813.53 and its two-hundred day moving average price is GBX 807.98. The stock has a market cap of £2.19 billion, a PE ratio of 10.16, a PEG ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH) last issued its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.44% and a return on equity of 19.59%. On average, equities analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 28th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, insider Tracy Clarke purchased 3,029 shares of Inchcape stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of GBX 819 per share, with a total value of £24,807.51. Corporate insiders own 13.75% 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.