Inchcape (LON:INCH) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Inchcape shares crossed above their 200-day moving average, reaching GBX 826 before closing at GBX 821.09, while trading volume totaled 516,346 shares.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds. The stock has a “Moderate Buy” consensus rating and an average price target of GBX 1,057.40.
• The company reported quarterly EPS of GBX 35.50, a 2.44% net margin and 19.59% return on equity; insider Tracy Clarke also bought 3,029 shares at GBX 819 each.

Inchcape plc (LON:INCH - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 815.38 and traded as high as GBX 826. Inchcape shares last traded at GBX 821.09, with a volume of 516,346 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INCH shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Inchcape from GBX 830 to GBX 870 and gave the company 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 report on Wednesday, July 29th. Berenberg Bank restated a "buy" rating and set a GBX 1,170 price target on shares of Inchcape in a research note on Tuesday, July 28th. Finally, Citigroup raised their price target on Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Inchcape currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,057.40.

Inchcape Stock Down 0.5%

The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 125.11. The stock has a market cap of £2.86 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.06 and a beta of 0.98. The business's fifty day moving average is GBX 808.09 and its two-hundred day moving average is GBX 815.38.

Inchcape (LON:INCH - Get Free Report) last released its earnings results 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%. Equities analysts forecast that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its board has initiated a share buyback plan on Tuesday, July 28th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Tracy Clarke purchased 3,029 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were bought at an average price of GBX 819 per share, for a total transaction of £24,807.51. 13.45% of the stock is owned by insiders.

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.

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