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

Shares of Inchcape plc (LON:INCH) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 814.97 and traded as high as GBX 855. Inchcape shares last traded at GBX 817.50, with a volume of 612,094 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on INCH. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,050 target price on shares of Inchcape in a research note on Wednesday, July 29th. Berenberg Bank reiterated a “buy” rating and set a GBX 1,170 price target on shares of Inchcape in a report on Tuesday, July 28th. Finally, Citigroup lifted their price objective on Inchcape from GBX 1,274 to GBX 1,277 and gave the company a “buy” rating in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,057.40.

Inchcape Stock Up 0.2%

The company has a debt-to-equity ratio of 125.11, a current ratio of 1.03 and a quick ratio of 0.51. The business has a 50 day moving average price of GBX 818.92 and a 200 day moving average price of GBX 814.42. The firm has a market capitalization of £2.80 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

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

Inchcape announced that its board has approved a stock repurchase program on Tuesday, July 28th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Inchcape news, insider Tracy Clarke acquired 3,029 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average cost of GBX 819 per share, with a total value of £24,807.51. 9.43% of the stock is currently owned by corporate insiders.

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.