Inchcape (LON:INCH) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Inchcape shares crossed above their 200-day moving average, reaching GBX 824 before closing at GBX 818, up 1.6% with roughly 950,000 shares traded.
• Analyst sentiment is favorable, with four Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of GBX 1,057.40.
• Recent results included quarterly EPS of GBX 35.50, while insider Tracy Clarke bought 3,029 shares at GBX 819 each; insiders own 9.43% of the company.

Inchcape plc (LON:INCH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 811.78 and traded as high as GBX 824. Inchcape shares last traded at GBX 818, with a volume of 950,064 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group restated a "buy" rating and issued a GBX 1,050 price target on shares of Inchcape in a research report on Wednesday, July 29th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 1,170 price objective on shares of Inchcape in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Citigroup raised their target price on shares of 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,057.40.

Inchcape Trading Up 1.6%

The business's 50 day moving average price is GBX 822.68 and its two-hundred day moving average price is GBX 811.78. 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 company has a market capitalization of £2.82 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH - Get Free Report) last released its quarterly earnings data 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%. On average, equities analysts predict that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 28th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Inchcape

In related news, insider Tracy Clarke purchased 3,029 shares of the stock in a transaction dated Tuesday, July 28th. The stock was bought at an average cost of GBX 819 per share, for a total transaction of £24,807.51. Insiders own 9.43% of the company's stock.

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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