Inchcape (LON:INCH) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Inchcape shares crossed above their 200‑day moving average (200‑day MA GBX 780.88), trading as high as GBX 825.60 and last at GBX 812.62 on heavy volume (157,963,922 shares).
• Analysts are bullish: Citigroup and Deutsche Bank raised their targets (to GBX 1,330 and GBX 830 respectively) and the consensus rating is a "Moderate Buy" with a consensus price target of GBX 1,050.
• Board-approved buyback and solid fundamentals: the company approved a share repurchase plan and reports a market cap of £2.89bn, P/E of 11.35 and a return on equity of 23.83%.

Inchcape plc (LON:INCH - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 780.88 and traded as high as GBX 825.60. Inchcape shares last traded at GBX 812.62, with a volume of 157,963,922 shares.

Analyst Ratings Changes

INCH has been the subject of several recent research reports. Citigroup increased their target price on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Inchcape currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,050.

Inchcape Trading Up 1.1%

The company has a quick ratio of 0.51, a current ratio of 1.07 and a debt-to-equity ratio of 100.56. The company has a fifty day moving average of GBX 816.07 and a two-hundred day moving average of GBX 780.88. The stock has a market capitalization of £2.89 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 2.06 and a beta of 0.89.

Inchcape (LON:INCH - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 EPS for the quarter. Inchcape had a net margin of 2.99% and a return on equity of 23.83%. On average, research analysts expect that Inchcape plc will post 85.9639233 EPS for the current year.

Inchcape announced that its Board of Directors has approved a share buyback plan on Tuesday, March 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Adrian Lewis sold 398 shares of the firm's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 789, for a total value of £3,140.22. 9.43% of the stock is currently owned by 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.

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