Inchcape (LON:INCH) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Inchcape plc (LON:INCH)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 802.95 and traded as high as GBX 823. Inchcape shares last traded at GBX 804, with a volume of 146,816,203 shares changing hands.

Analyst Ratings Changes

A number of research analysts have issued reports on INCH shares. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,050 price target on shares of Inchcape in a report on Thursday, April 30th. Citigroup boosted their price target on Inchcape from GBX 1,115 to GBX 1,330 and gave the company a “buy” rating in a report on Thursday, March 5th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,170 price target on shares of Inchcape in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Inchcape from GBX 800 to GBX 830 and gave the company a “buy” rating in a report on Wednesday, March 4th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Inchcape currently has an average rating of “Moderate Buy” and an average price target of GBX 1,060.

Inchcape Trading Up 1.2%

The company has a debt-to-equity ratio of 100.56, a quick ratio of 0.51 and a current ratio of 1.07. The firm has a market capitalization of £2.87 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a 50 day moving average price of GBX 812.17 and a two-hundred day moving average price of GBX 802.95.

Inchcape declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 3rd that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Inchcape

In other news, insider Adrian Lewis sold 45,674 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of GBX 830, for a total transaction of £379,094.20. 13.29% of the stock is currently owned by 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.