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

Inchcape plc (LON:INCH) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 762.28 and traded as high as GBX 817. Inchcape shares last traded at GBX 794.50, with a volume of 167,983 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on INCH. Deutsche Bank Aktiengesellschaft lifted their target price on Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Citigroup raised their price target on Inchcape from GBX 1,115 to GBX 1,330 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,050.

Inchcape Stock Performance

The stock has a market cap of £2.84 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.06 and a beta of 0.89. The stock’s 50 day moving average is GBX 821.99 and its two-hundred day moving average is GBX 762.28. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 100.56.

Inchcape (LON:INCH) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported GBX 80.80 earnings per share (EPS) for the quarter. Inchcape had a net margin of 2.99% and a return on equity of 23.83%. Analysts anticipate that Inchcape plc will post 85.9639233 earnings per share for the current fiscal year.

Inchcape declared that its board has initiated a share buyback program on Tuesday, March 3rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.