Inchcape (LON:INCH) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Inchcape shares rose above their 200-day moving average, trading as high as GBX 840 and last changing hands at GBX 832.86, up 0.3%.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and a consensus price target of GBX 1,057.40 versus the current price.
• The company reported quarterly EPS of GBX 35.50, a 2.44% net margin and 19.59% return on equity; insider Tracy Clarke also purchased 3,029 shares at GBX 819 each.

Inchcape plc (LON:INCH - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 813.96 and traded as high as GBX 840. Inchcape shares last traded at GBX 832.86, with a volume of 593,713 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INCH shares. Jefferies Financial Group restated a "buy" rating and set a GBX 1,050 price objective on shares of Inchcape in a report on Wednesday, July 29th. Citigroup lifted their price target on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. 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 report on Wednesday, July 29th. Finally, Berenberg Bank reaffirmed a "buy" rating and set a GBX 1,170 price objective on shares of Inchcape in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,057.40.

Inchcape Trading Up 0.3%

The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 125.11. The firm has a market capitalization of £2.90 billion, a P/E ratio of 13.08, a PEG ratio of 2.06 and a beta of 0.97. The business has a 50 day moving average of GBX 808.51 and a 200-day moving average of GBX 813.96.

Inchcape (LON:INCH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported GBX 35.50 earnings per share for the quarter. Inchcape had a net margin of 2.44% and a return on equity of 19.59%. Analysts anticipate that Inchcape plc will post 85.9639233 EPS for the current fiscal year.

Inchcape announced that its Board of Directors has approved a share repurchase program on Tuesday, July 28th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Tracy Clarke acquired 3,029 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of GBX 819 per share, with a total value of £24,807.51. Corporate insiders own 13.39% of the company's stock.

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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