Inchcape (LON:INCH) Stock Price Crosses Above 200-Day Moving Average of $635.96

Inchcape plc (LON:INCH) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $635.96 and traded as high as $701.50. Inchcape shares last traded at $700.00, with a volume of 511,733 shares changing hands.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a GBX 845 ($11.12) price objective on shares of Inchcape in a research report on Friday, November 1st. Barclays boosted their target price on shares of Inchcape from GBX 700 ($9.21) to GBX 855 ($11.25) and gave the company an “overweight” rating in a report on Wednesday, October 30th. HSBC cut shares of Inchcape to a “hold” rating and increased their price target for the company from GBX 690 ($9.08) to GBX 705 ($9.27) in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Inchcape from GBX 630 ($8.29) to GBX 590 ($7.76) and set a “neutral” rating for the company in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Inchcape currently has an average rating of “Hold” and a consensus target price of GBX 709.17 ($9.33).

The company has a debt-to-equity ratio of 182.40, a current ratio of 1.13 and a quick ratio of 0.41. The company has a market cap of $2.79 billion and a price-to-earnings ratio of 54.26. The firm has a 50 day simple moving average of GBX 692.02 and a 200-day simple moving average of GBX 635.96.

In other Inchcape news, insider Till Vestring purchased 445 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were acquired at an average price of GBX 656 ($8.63) per share, with a total value of £2,919.20 ($3,840.04).

About Inchcape (LON:INCH)

Inchcape plc operates as an automotive distributor and retailer in the premium and luxury automotive sectors. The company sells and retails new and used cars of various brands. It also provides after sales servicing and parts; and vehicle finance and insurance products and services. The company operates in Asia, Australasia, the United Kingdom, Europe, Africa, South America, and Russia.

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