Inchcape (LON:INCH) Stock Price Passes Below 50 Day Moving Average of $596.92

Inchcape plc (LON:INCH) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $596.92 and traded as low as $616.50. Inchcape shares last traded at $619.00, with a volume of 431,547 shares trading hands.

A number of analysts recently weighed in on the stock. Berenberg Bank reaffirmed a “hold” rating and set a GBX 600 ($7.84) target price on shares of Inchcape in a report on Monday, March 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Inchcape in a report on Friday, May 24th. Numis Securities raised shares of Inchcape to an “add” rating and decreased their target price for the stock from GBX 750 ($9.80) to GBX 660 ($8.62) in a report on Thursday, May 16th. Finally, Jefferies Financial Group assumed coverage on shares of Inchcape in a report on Tuesday, April 30th. They set a “buy” rating and a GBX 845 ($11.04) target price on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of GBX 716.33 ($9.36).

The firm has a market capitalization of $2.55 billion and a P/E ratio of 53.74. The company has a debt-to-equity ratio of 158.95, a quick ratio of 0.36 and a current ratio of 1.07. The company’s 50 day simple moving average is GBX 596.92.

In other Inchcape news, insider Richard Howes sold 52,193 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of GBX 616 ($8.05), for a total transaction of £321,508.88 ($420,108.30).

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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