Inchcape (LON:INCH) Shares Cross Above 200 Day Moving Average – Time to Sell?

Inchcape plc (LON:INCH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 802.95 and traded as high as GBX 823. Inchcape shares last traded at GBX 804, with a volume of 146,816,203 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,050 target price on shares of Inchcape in a research note on Thursday, April 30th. Citigroup increased their price objective on Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a research note on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,060.

Inchcape Trading Up 0.1%

The company’s fifty day moving average price is GBX 814.09 and its two-hundred day moving average price is GBX 804.06. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 100.56. The firm has a market cap of £2.87 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Inchcape announced that its board has authorized a stock buyback program on Tuesday, March 3rd that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Inchcape

In other news, insider Adrian Lewis sold 45,674 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total value of £379,094.20. Insiders own 13.29% 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.