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

Shares of Inchcape plc (LON:INCH) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 815.38 and traded as high as GBX 826. Inchcape shares last traded at GBX 821.09, with a volume of 516,346 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Berenberg Bank reissued a “buy” rating and set a GBX 1,170 target price on shares of Inchcape in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Inchcape from GBX 830 to GBX 870 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,050 price target on shares of Inchcape in a research note on Wednesday, July 29th. Finally, Citigroup increased their price objective on 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 stock. According to data from MarketBeat, Inchcape has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,057.40.

Inchcape Stock Up 0.1%

The firm has a 50 day moving average of GBX 808.34 and a 200-day moving average of GBX 815.39. The company has a debt-to-equity ratio of 125.11, a current ratio of 1.03 and a quick ratio of 0.51. The stock has a market capitalization of £2.85 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98.

Inchcape (LON:INCH) last announced its quarterly earnings data on Tuesday, July 28th. The company reported GBX 35.50 EPS for the quarter. Inchcape had a return on equity of 19.59% and a net margin of 2.44%. On average, equities research analysts expect that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 28th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Inchcape news, insider Tracy Clarke purchased 3,029 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were purchased at an average price of GBX 819 per share, for a total transaction of £24,807.51. 13.45% of the stock is currently owned by company insiders.

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.