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

Key Points

• Inchcape shares moved above their 200-day moving average, reaching GBX 855 before last trading at GBX 817.50, with 612,094 shares changing hands.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of GBX 1,057.40; individual targets range from GBX 870 to GBX 1,277.
• 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.

Shares of Inchcape plc (LON:INCH - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 814.97 and traded as high as GBX 855. Inchcape shares last traded at GBX 817.50, with a volume of 612,094 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,050 price objective on shares of Inchcape in a research note on Wednesday, July 29th. Citigroup increased their target price on shares of Inchcape from GBX 1,274 to GBX 1,277 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Inchcape from GBX 830 to GBX 870 and gave the stock a "hold" rating in a report on Wednesday, July 29th. Finally, Berenberg Bank restated a "buy" rating and issued a GBX 1,170 price target on shares of Inchcape in a research report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,057.40.

Inchcape Stock Down 2.4%

The company has a debt-to-equity ratio of 125.11, a quick ratio of 0.51 and a current ratio of 1.03. The firm's 50 day moving average price is GBX 818.17 and its two-hundred day moving average price is GBX 814.97. The company has a market cap of £2.82 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Inchcape (LON:INCH - Get Free Report) last issued 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 research analysts anticipate that Inchcape plc will post 85.9639233 EPS for the current fiscal year.

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

Insider Activity

In other news, insider Tracy Clarke bought 3,029 shares of Inchcape 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. 9.43% of the stock is owned by company 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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