Inchcape (LON:INCH) Sets New 1-Year High – Time to Buy?

Inchcape plc (LON:INCH)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 884 and last traded at GBX 882.88, with a volume of 986570 shares changing hands. The stock had previously closed at GBX 837.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 target price on shares of Inchcape in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Inchcape has an average rating of “Moderate Buy” and an average target price of GBX 988.75.

Inchcape Stock Up 5.1%

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 firm has a market cap of £3.16 billion, a PE ratio of 8.38, a P/E/G ratio of 2.06 and a beta of 1.19. The business’s 50-day simple moving average is GBX 794.26 and its 200 day simple moving average is GBX 739.12.

Insiders Place Their Bets

In related news, insider Byron Elmer Grote purchased 5,000 shares of Inchcape stock in a transaction dated Monday, December 8th. The stock was purchased at an average cost of GBX 758 per share, with a total value of £37,900. 9.43% of the stock is currently owned by corporate 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.