Inchcape (LON:INCH) Hits New 52-Week High – Here’s Why

Shares of Inchcape plc (LON:INCH) hit a new 52-week high during trading on Friday . The stock traded as high as GBX 820.50 and last traded at GBX 801.50, with a volume of 67324 shares. The stock had previously closed at GBX 793.

Wall Street Analyst Weigh In

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

Inchcape Stock Up 0.8%

The firm’s 50-day simple moving average is GBX 768.49 and its 200 day simple moving average is GBX 731.76. The company has a debt-to-equity ratio of 206.10, a quick ratio of 0.51 and a current ratio of 1.10. The stock has a market capitalization of £2.91 billion, a P/E ratio of 7.69, a PEG ratio of 2.06 and a beta of 1.19.

Insider Transactions at Inchcape

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

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.