Inchcape (LON:INCH) Share Price Crosses Above 200 Day Moving Average of $600.20

Shares of Inchcape plc (LON:INCH) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $600.20 and traded as high as $613.50. Inchcape shares last traded at $606.00, with a volume of 819,880 shares trading hands.

Separately, JPMorgan Chase & Co. cut Inchcape to a “neutral” rating and lowered their price target for the company from GBX 627 ($8.19) to GBX 620 ($8.10) in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of GBX 685.83 ($8.96).

The company has a current ratio of 1.13, a quick ratio of 0.41 and a debt-to-equity ratio of 182.40. The company has a market capitalization of $2.45 billion and a P/E ratio of 46.98. The business has a 50 day moving average price of GBX 604.47 and a 200 day moving average price of GBX 600.20.

In related news, insider John Langston purchased 659 shares of the stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of GBX 613 ($8.01) per share, with a total value of £4,039.67 ($5,278.54). Also, insider Gijsbert de Zoeten purchased 17,500 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of GBX 579 ($7.57) per share, with a total value of £101,325 ($132,399.06).

Inchcape Company Profile (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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