Inchcape (LON:INCH) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Inchcape plc (LON:INCH) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 771.79 and traded as high as GBX 782. Inchcape shares last traded at GBX 782, with a volume of 1,449,448 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Inchcape from GBX 800 to GBX 830 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Citigroup upped their price target on shares of Inchcape from GBX 1,115 to GBX 1,330 and gave the company a “buy” rating in a report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Inchcape currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,050.

Inchcape Price Performance

The stock has a 50 day moving average of GBX 822.22 and a 200-day moving average of GBX 771.79. The company has a current ratio of 1.07, a quick ratio of 0.51 and a debt-to-equity ratio of 100.56. The stock has a market capitalization of £2.80 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89.

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

Inchcape announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 3rd that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.