Inchcape (LON:INCH) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Inchcape's stock price has recently crossed above its 200-day moving average, currently trading at GBX 716.50 ($9.66), indicating potential upward momentum.
• Equities analysts are optimistic, with multiple recommendations including a "buy" rating from UBS Group and a price target of GBX 920, while the average price target stands at GBX 985.25.
• Insider trading activity is notable, with several insiders purchasing shares recently, indicating strong internal confidence in the company's performance.

Inchcape plc (LON:INCH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 693.70 ($9.35) and traded as high as GBX 716.50 ($9.66). Inchcape shares last traded at GBX 716.50 ($9.66), with a volume of 529,126 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Inchcape in a report on Thursday, September 18th. They set a "buy" rating and a GBX 920 price target on the stock. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Inchcape in a report on Thursday, July 31st. Berenberg Bank reissued a "buy" rating and issued a GBX 1,120 target price on shares of Inchcape in a report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 800 target price on shares of Inchcape in a report on Wednesday, July 30th. Finally, Citigroup lowered their target price on shares of Inchcape from GBX 1,161 to GBX 1,101 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Inchcape currently has an average rating of "Moderate Buy" and an average price target of GBX 985.25.

Inchcape Trading Up 2.4%

The company has a market cap of £2.64 billion, a PE ratio of 682.38, a P/E/G ratio of 2.06 and a beta of 1.19. The stock's 50 day moving average is GBX 676.46 and its 200-day moving average is GBX 693.70. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 206.10.

Inchcape (LON:INCH - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported GBX 35.50 earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.45% and a return on equity of 17.60%. As a group, sell-side analysts anticipate that Inchcape plc will post 85.9639233 EPS for the current year.

Insider Activity at Inchcape

In other Inchcape news, insider Stuart Rowley purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price of GBX 929 per share, with a total value of £27,870. Also, insider Byron Elmer Grote purchased 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of GBX 671 per share, for a total transaction of £23,485. Insiders have acquired a total of 15,718 shares of company stock valued at $11,565,470 over the last 90 days. 5.71% of the stock is 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.

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