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

Inchcape plc (LON:INCH) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 698.31 ($9.53) and traded as high as GBX 780.50 ($10.66). Inchcape shares last traded at GBX 777.09 ($10.61), with a volume of 969,699 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on INCH shares. Citigroup dropped their price target on shares of Inchcape from GBX 1,194 ($16.30) to GBX 1,163 ($15.88) and set a “buy” rating for the company in a research report on Tuesday, April 29th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,120 ($15.29) price target on shares of Inchcape in a research report on Thursday, June 26th.

Inchcape Trading Up 2.5%

The firm has a market capitalization of £3.05 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19. The stock’s 50-day simple moving average is GBX 688.35 and its two-hundred day simple moving average is GBX 698.31. 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 Buying and Selling at Inchcape

In related news, insider Adrian Lewis bought 150 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of GBX 684 ($9.34) per share, with a total value of £1,026 ($1,400.68). 14.84% 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.