Inchcape (LON:INCH) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Inchcape plc (LON:INCH)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 730.82 and traded as high as GBX 797. Inchcape shares last traded at GBX 785, with a volume of 663,718 shares.

Analyst Ratings Changes

Several brokerages have weighed in on INCH. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Inchcape in a report on Thursday, October 16th. UBS Group restated a “buy” rating and set a GBX 920 target price on shares of Inchcape in a research note on Friday, October 17th. Berenberg Bank reiterated 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 raised their price target on Inchcape from GBX 1,101 to GBX 1,115 and gave the company a “buy” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Inchcape presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 988.75.

Inchcape Trading Up 1.3%

The stock has a market cap of £2.87 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The stock’s 50-day moving average is GBX 765.65 and its two-hundred day moving average is GBX 730.82. The company has a debt-to-equity ratio of 206.10, a current ratio of 1.10 and a quick ratio of 0.51.

Insider Activity at Inchcape

In other news, insider Byron Elmer Grote acquired 5,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was purchased at an average price of GBX 758 per share, for a total transaction of £37,900. 9.39% of the stock is 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.