Inchcape (LON:INCH) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of Inchcape plc (LON:INCH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 721.64 and traded as high as GBX 776. Inchcape shares last traded at GBX 768, with a volume of 135,382 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INCH. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Inchcape in a research report on Thursday, October 16th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,120 target price on shares of Inchcape in a research note on Thursday, October 23rd. Citigroup increased their price target on Inchcape from GBX 1,101 to GBX 1,115 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, UBS Group reissued a “buy” rating and set a GBX 920 price target on shares of Inchcape in a research note on Friday, October 17th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Inchcape presently has a consensus rating of “Moderate Buy” and an average target price of GBX 988.75.

Inchcape Stock Performance

The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 206.10. The company has a market capitalization of £2.77 billion, a PE ratio of 7.31, a PEG ratio of 2.06 and a beta of 1.19. The firm’s 50-day simple moving average is GBX 757.52 and its 200-day simple moving average is GBX 722.24.

Insider Activity

In other news, insider Byron Elmer Grote acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were bought at an average price of GBX 758 per share, with a total value of £37,900. Insiders own 9.39% 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.