Inchcape (LON:INCH) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Inchcape plc (LON:INCH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 792.95 and traded as high as GBX 834.50. Inchcape shares last traded at GBX 820.50, with a volume of 843,064 shares.

Analysts Set New Price Targets

Several research analysts recently commented on INCH shares. Deutsche Bank Aktiengesellschaft raised their target price on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Citigroup raised their target price on Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Berenberg Bank reiterated a “buy” rating and set a GBX 1,170 price objective on shares of Inchcape in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 price objective on shares of Inchcape in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,060.

Inchcape Stock Performance

The stock has a market capitalization of £2.87 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. 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 stock’s 50-day simple moving average is GBX 802.72 and its 200 day simple moving average is GBX 792.95.

Inchcape (LON:INCH) last released its quarterly earnings results 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%. Analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its board has approved a share buyback plan on Tuesday, March 3rd that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Inchcape news, insider Adrian Lewis sold 45,674 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of GBX 830, for a total value of £379,094.20. 9.43% of the stock is currently 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.